Korean firms eye East via West Bengal

Korean industries are keen to do business in West Bengal, Hansoo Park, Director General of Korea Trade-Investment Promotion Agency (KOTRA) said.

Korean companies in electronics, machinery and mining and food processing were keen to invest directly or participate in joint ventures and technology transfers, he said.

Kotra’s Kolkata office, its fifth in India, would facilitate business opportunities across Eastern and North Eastern states and serve Nepal, Bhutan and Sikkim.

To a question on the impact of POSCO’s exit from Odisha in 2016 (after decade long efforts to set up a steel plant there) , he said that the experience had taught lessons on engaging with the local communities. He, however, declined to elaborate.

West Bengal Finance Minister Amit Mitra said there was a huge catchment area around the State which the companies from South Korea could tap.

Managing Director of West Bengal Industrial Development Corporation Vandana Yadav said that the sectors where Korean companies would be particularly welcome were auto ancillaries, food processing, ship-building and port infrastructure.