Korea, India to Work Closer Together

      May 19, 2015 10:40

      President Park Geun-hye and Indian Prime Minister Narendra Modi on Monday agreed to boost cooperation in defense, diplomacy, trade and investment, science and technology and culture.

      "I expect today's summit to set a major milestone in strengthening relations and cooperation between Korea and India," Park said as the two met at Cheong Wa Dae.

      With a population of 1.2 billion, India is often seen as the next China for its tremendous growth potential.

      President Park Geun-hye speaks with Indian Prime Minister Narendra Modi before a formal welcoming ceremony at Cheong Wa Dae on Monday. /Newsis

      The two leaders also pledged to start negotiations next year on revising the Korea-India Comprehensive Economic Partnership Agreement (CEPA). The two sides signed the pact in 2010, but it requires revision since it contains areas that are disadvantageous for Korea compared to a similar agreement India signed later with Japan.

      The government and the Export-Import Bank of Korea will provide US$10 billion for infrastructure projects in India to build 100 smart cities and a high-speed railway as well as improve existing railroads.

      • Copyright © Chosunilbo & Chosun.com
      이전 기사 다음 기사
      기사 목록 맨 위로