Invest UP, IIDC meet to boost Korean investments in UP

The primary objective of the meeting was to enhance bilateral relations and explore investment opportunities in Uttar Pradesh. Herald Media Group, a well-known South Korean conglomerate established in 1953, has been actively involved in media, education, and lifestyle sectors. The Korean delegation consisted of Hong Kil-Yong, who serves as the Director of Strategy & Business Dept at Herald Media Group, Young-Min RYU, Senior Vice President of DAEWOO GLOBAL Business Group, and Dr. Sanjay Kumar, a journalist from The Korea Herald.

The agenda of the meeting revolved around extending warm greetings to the esteemed officials of IIDC and Invest UP and discussing the various investment and business prospects available in Uttar Pradesh for Korean enterprises.

During the meeting, Manoj Kumar Singh, the Infrastructure & Industrial Development Commissioner of GoUP, expressed his pleasure at the visit of the Korean delegation. He emphasised Uttar Pradesh's dedication to creating a favourable environment for foreign investment. He highlighted the state's robust infrastructure, skilled workforce, and investor-friendly policies, inviting Korean companies to consider partnerships and investments across sectors such as Infrastructure, Power, Real Estate, Media, Food Processing, and Tourism.

Abhishek Prakash, the CEO of Invest UP, reiterated the state government's commitment to facilitating investments and business collaborations. He presented the state as a preferred investment destination in India with potential for mutual growth and prosperity. He outlined the strategic advantages of Uttar Pradesh, including its favourable location, business-friendly ecosystem, and proactive governance. The delegation also emphasized Uttar Pradesh's significant potential for industrial development and identified UP as a crucial investment destination for Korea.

Furthermore, the Korean delegation expressed a strong interest in establishing a Korea-India Economic Forum between the Korean International Trade Association (KITA) and India, with a special focus on Uttar Pradesh. This forum aims to explore new business ventures in India, particularly in Uttar Pradesh.

The delegation showed keen interest in utilising Uttar Pradesh's vast market potential and skilled workforce to expand their operations and contribute to the state's economic growth. As the meeting concluded positively, the delegates expressed their gratitude for the warm reception and hospitality. They affirmed their commitment to further exploring investment opportunities in Uttar Pradesh and strengthening bilateral ties between South Korea and India.

The successful discussions at the Invest UP office represent a significant step towards fostering closer economic cooperation between South Korea and Uttar Pradesh, ushering in a new era of partnership and prosperity.