PNS|Vijayawada
The delegation from Andhra Pradesh (AP), led by State Finance Minister Buggana Rajendranath Reddy, is embarking on a ten-day visit to South Korea and Vietnam. On the first day, the team engaged with various stakeholders in Seoul, Republic of Korea (ROK). The delegation aims to explore Government-to-Government (G2G) and Government-to-Business (G2B) opportunities in ROK.
During their visit to the Republic of Korea, discussions were held with Korean officials, Korea Trade Investment Promotion Agency (KOTRA), Sahmyook University, and trading groups. These entities expressed their willingness to provide necessary support and invest in AP State.
In a meeting with Sahmyook University, Minister Rajendranath discussed innovative projects, including the establishment of Korean language labs in Andhra Pradesh.
These labs would enable the youth of Andhra Pradesh to pursue study and work opportunities abroad, especially in the Republic of Korea. Sahmyook University agreed to support AP in the field of vocational education and to offer Korean language programs to facilitate job placements in South Korea.
Additionally, a faculty exchange programme was discussed, and Sahmyook University assigned a Single Point of Contact to further these discussions.
Minister Rajendranath also met with Ambassador of India to the Republic of Korea, Amit Kumar, to focus on the economic development prospects between ROK and Andhra Pradesh. They exchanged ideas related to investment prospects, with Minister Rajendranath highlighting the Andhra Pradesh government’s readiness to establish industrial clusters in collaboration with South Korean industries seeking business expansion.
He emphasised the promotion of seafood import and export, considering Andhra Pradesh’s significant coastline. Minister Rajendranath also requested support from Amit Kumar in creating a conducive environment for business by addressing the import duty structure.
Amit Kumar assured Minister Rajendranath that the Indian Embassy would provide full support in promoting investment and collaboration for the state of Andhra Pradesh.
He committed to examining the import and export duties and making efforts to create the necessary conducive environment as per AP’s requirements.
During a meeting with representatives from the Indian Chamber of Commerce, including Pankaj Srivastava, Global CFO of Coupang; Jong Baek Park, Partner at BKL; Pankaj Agrawal, Founder & CEO; and Inbom Choi, CEO of Sage Strategies, Minister Rajendranath discussed business opportunities in Korea.
The focus was on maximizing economic and cultural exchanges, exploring avenues to increase trade, and enhancing economic activities between the two counterparts. The Indian Chamber of Commerce agreed to provide full support in improving trade and economic partnerships, prioritizing AP whenever investment opportunities arise.
