about India and south korea bilateral trade relations

1. By Sourabh Modgil
ROLL NO.- 44

2. •LANGUAGE : KOREAN
•AREA : 219;140 KM sq.
•POPULATION : 73,00,00,000
•CURRENCY: won ₩
[ 1 KOREAN WON = 0.05 INDIAN RUPPEE ]
• CAPITAL OF N.KOREA – PYONGYANG
•CAPITAL OF SOUTH KOREA - SEOUL

3.  KOREA is an east Asia territory that is divided into two
separate sovereign states NORTH and SOUTH KOREA.

4.  KOREA was under Japan rule from 1910 to 1945.
 After 35 years of rule , during the world war 2 The United
States and the Soviet Union agreed to temporarily occupy
the country as a trusteeship with the zone of control
demarcated along the 38th parallel.
 Though elections were scheduled, the Soviet Union
refused to cooperate with United Nations plans to hold
general and free elections in the two Koreas, and as a
result, a Communist state was permanently established
under Soviet auspices in the north and a pro-Western
state was set up in the south .

5. JERYE – Ancestral Memorial Rite
SOLLAL – Lunar New Years Day
CHUSEOK- Korean Thanksgiving Day

6. ONDOL
Traditional korean rooms
Rooms are not labeled or reserved for specific pourpose.

7. PALACE OF THE JOSEON DYNASTY
 -Gyeongokgung Palace
-Deoksugang Palace

8. -Changdeokgung palace
-ITAEWON -popular district for
Shopping and entertainment .

9. SOUTH
KOREA
FLAG

10. NORTH
KOREA
FLAG

11. Current president of south Korea is lee myung –
bak

12.  South Korea has a market economy which ranks 15th in
the world by nominal GDP and 12th by purchasing poweR
parity (PPP), identifying it as one of the G-20 major
economies.
 Has GDP of - Nominal: $1.268 trillion.
 . It is a high-income developed country, with a developed
market, and is a member of OECD.[Organization for
Economic Co-operation and Development]
 South Korea had one of the world's fastest growing
economies from the early 1960s to the late 1990s .
 financial organizations like the World Bank describe
Korea as one of the fastest-growing major economies of
the next generation.

13. North Korea is a self-described Juche (self-reliant)
state, described by some observers as a de facto absolute
monarchy or "hereditary dictatorship" with a
pronounced cult of personality organized around Kim Il-
sung (the founder of North Korea and the country's
only president).KIM JONG UN.

14. North Korea's economy is a centrally planned system.
The role of market allocation is sharply limited .
GDP - $40 billion
 With GDP per capita of less than $2,000, North Korea
remains as one of the world's poorest and least developed
countries, in sharp contrast to its neighbor South Korea, which
has one of the largest economies in Asia.
In economic sector there main work is of agriculture ,
mining ,military products and fisheries .
It exports mainly goes to China 42% , south Korea 38%
and India 5%.

15. India, South Korea to double bilateral trade to $40 bn by 2015.
The CEPA binds South Korea to phase out or reduce tariffs on
90percent of Indian goods over 10 years, while India is to eliminate
tariffs on 85 percent of South Korean exports within the same
period, which is longer than what is written in other FTAs South
Korea settled with.

16.  Posco's proposed $12-bn investment in a steel project in
Orissa, major industrial houses have committed an investment
to the tune of $2.8 bn.
 Tata Motor's purchase of Daewoo Commercial Vehicles at the
cost of $102 million highlights the India's investments in Korea.
In June 2012, India, a major importer of arms and military
hardware purchased eight warships from South Korea.
INDIA export of commercial services have been increasing by
more than 20% annually in last 5 years.
According to electronic and computer software export council
,software exports from India to south Korea in 2001 – 2002 were
$ 27.53 million compared to 2000 – 2001 $8.8 million .
 after the implementation of the Free Trade Agreement
(FTA), Trade between India and South Korea grew by 10 per cent
to $10.7 bn in 2010 .

17. The CEPA was signed on August 7, 2009, by the governments
of India and South Korea, aimed at boosting trade in industrial
sectors, as well as engaging in manpower exchange.
India became the 9th biggest source of imports for ROK in
2011.
Korea accounts for about 2.64% of total FDI inflows,
amounting to US$ 2.601 billion.
 Hyundai Heavy Industries have won two mega projects
including one pipeline project worth US$ 600 million.
CEPA came into force on 1st January, 2010. Rapidly expanding trade
and investment flows lie at the core of the bilateral cooperation.
Bilateral trade in 2011 crossed $ 20.5 billion registering a 70% growth
over a two year period. A revised trade target of $ 40 billion by 2015 was
established by PM. Singh and President Lee on 25 March 2012.
 Major Korean conglomerates (Chaebols) such as Samsung, Hyundai
Motors and LG have made significant investments into India,
estimated at $2.6 billion, till September 2012. Indian investments in
ROK have already exceeded $ 1 billion.

18. Imports from
Year Exports to India Total Trade
India
2001 1.41 1.11 2.52
2002 1.44 1.25 2.69
2003 2.85 1.23 4.08
2004 3.63 1.85 5.48
2005 4.59 2.11 6.70
2006 5.53 3.64 9.17
2007 6.60 4.62 11.22
2008 8.97 6.58 15.55
2009 8.01 4.14 12.15
2010 11.43 5.67 17.10
2011 12.68 7.89 20.57
2012 (up to Nov) 11.06 6.38 17.39
Source: Korea International Trade Association

19. India, S Korea to step up defence, n-projects ties.
India, Korea Tie-Up For Nanotechnology Product Development
.
Uno Minda, Korean firm tie up to make automotive lamps.
Power Exchange India ties up with Korea Power.
Sahara Power, Korea firm tie up for 6,000 MW plants.
IOC signed MoU with Korea Gas Corporation to Jointly explore
and produce Gas.
An Indian Cultural Centre (ICC) was established in RoK in
April 2011.

20.  Prime Minister Dr. Manmohan Singh paid an official visit to Seoul
from 24-27 March 2012, both for bilateral and Nuclear Security
Summits.
President Lee paid a landmark visit to India, as Chief Guest at India's
Republic Day celebrations on 26 January 2010, when bilateral ties were
raised to the level of Strategic Partnership.
Defence Minister Shri A.K. Anthony visited RoK in September 2010.
A fleet of four Indian naval vessels are currently on a goodwill visit to
the port of Busan.
Minister of Knowledge Economy Mr. Hong Sukwoo VISITED India
on 26 jan ,2013.
Minister of Culture, Sports & Tourism Mr. Choe Kwang-sik visited
India on 13th dec. 2012 .