January 17, 2014 11:10
President Park Geun-Hye met Indian Prime Minister Manmohan Singh in New Delhi, India on Thursday to discuss bilateral economic cooperation between the two nations.
Her trip aims to lay the groundwork for local firms to more easily enter the world's second-largest market by population.
One of the most notable accomplishments of the summit was their agreement to revise the Korea-India Comprehensive Economic Partnership Agreement (CEPA) to cover not only goods, but also investments and services.
The two countries will hold ministerial level talks on the matter in Seoul in March.
Both leaders also agreed to reduce the tax burden on companies operating on one another's soil to further bolster investment, while also avoiding double taxation.
Park has also sought greater financial support for Korean firms willing to take part in infrastructure projects in India.
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