Mumbai, Nov 21 (UNI) Indian Merchants' Chamber (IMC) and Korea's Gwangju Chamber of Commerce and Industry (GCCI) signed a Memorandum of Understanding (MoU) for wide ranging cooperation in the city today.
IMC President Mr Niraj Bajaj and GCCI's Vice President Kim Hong-Kyun inked the document on behalf of their respective organizations, in the presence of members of both IMC and GCCI at an interactive meeting.
Addressing the meeting, Gwangju City's Mayor Park Kwang-Tae said he was leading a 53-Member delegation to India to scout for opportunities for business collaboration, particularly in the sectors like information technology (IT), bio-technology (BT), entertainment and media.
He said ''We have plans to develop Gwangju as the cultural hub city of Asia and the mecca of high-tech industry. This massive project will be implemented by 2010 at an investment of over $ 7 billion.'' Mayor Park said his team would like to meet the leading lights of Bollywood and others in the Indian entertainment industry for discussing collaboration for production and distribution of films and documentaries. ''We are also interested in collaboration in the area of animation industry, and in setting up R&D Ventures,'' he said.
Dwelling on the plan to make Gwangju, a future oriented city,' he outlined the projects, which were under implementation, including a future oriented economic structure based on new growth engines, i.e. BT, Nano technology (NT), home robots and electronic financial industries.
Mayor Park said Industry sectors such as photonics, automobile, electronics, unconventional energies, designing, high-tech components, bio technology and R &D centers had great potential for development in his city.