FM woos South Korean businessmen

New Delhi, Sep 21 (UNI) Finance Minister P Chidambaram today outlined to the South Korean business community in Seoul the unique opportunity that India offers to investors and the red carpet that the government holds out for foreign investors.

The Finance Minister, who is on a visit to Seoul, spoke of the advatages of Small and Medium businessmen of the two countries collaborating with each to achieve synergies.

Mr Chidambaram held meetings with representatives of Korean business and industry, on the second day of his visit.

Speaking about India as an investment destination, Mr Chidambaram said the country can boast of stability of the polity, rule of law, and large and educated manpower.

Some concrete suggestions were made by him to target specific SMEs who were looking to invest overseas and linking them with suitable financial agencies in India, including SIDBI and Exim Bank.

Mr Chidambaram also met members of the Seoul Financial Forum which included senior representatives of financial institutions and academics from leading management and business schools in Korea.

The focus of discussion was on the recent economic growth performance of India and prospects for future growth, as also opportunities for investment in the financial sector in India.

Mr Chidambaram also met Indian nationals holding senior positions in different companies and businesses in South Korea and had a wide ranging discussion on the comparative advantages of doing business in India and South Korea.

The Finance Minister also addressed a gathering of important journalists on 'Indian Economy and Emerging Opportunities' organised by the Korea Press Foundation at the Seoul Foreign Correspondents' Club.

He had a round table meeting with a group of top level representatives of business and industry including Mr Joo-Hee Han, President and CEO of Daelim Industrial Co, Mr Kyung-Shik Sohn, Chairman of Korea Chamber of Commerce and Industry, Mr Kihwan Kim, Chairman of Seoul Financial Forum and International Advisor of Goldman Sachs, Mr Joo-ahn Kang, President of Asiana Airlines which is a part of the KUMHO group, Mr Yung Ku Ha, CEO, Citigroup, Korea, Mr KO Chae and President of TATA Daewo Commercial Vehicle Co.

Indian Ambassador to Korea N Parthasarathy was also present.

The Finance Minister addressed a special session of a seminar jointly organised by the Korea Institute for International Economic Policy and Ministry of Finance and Economy, Korea on 'Strategies for Korean Companies to invest in India and other BRIC Countries.' UNI GS PKS HT1842