PUBG Maker Krafton Other Startups Want to Invest in India: According to the South Korean ambassador to India. Chang Jae-bok, not just major corporations like Samsung, LG, and Kia. But also some recent startups like PUBG creator Krafton, would be willing to invest in and work with Indian businesses.
In addition to speaking at the Korea-Karnataka Economic Cooperation Forum summit while he was in the city. The ambassador led a high-level team today to meet with Karnataka Chief Minister Basavaraj Bommai in the presence of Industries Minister Murugesh R Nirani.
According to a press statement from the Korean Embassy, there are currently 40 Korean businesses functioning in Karnataka.
Jae-bok said that many startups eager to join India and Korean corporations currently operating in the country would be expanding their investment plans.
“In this phase of bilateral economic cooperation. It makes sense for Korean businesses to keep investing in and growing their business relationships with India.
I think that certain newly-born Korean startups, like Krafton. As well as major corporations like Samsung, LG, and Kia. Would be willing to invest in India and work with Indian businesses, “said he.
South Korea saw the enormous potential for future collaboration, particularly in putting the Make in India concept into practice.
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He said, “In a variety of industries, including the automotive, steel, chemical, IT, startup, aviation, and defense industries, Korea can be the finest partner. With the completion of new CEPA discussions, bilateral economic interactions will only increase.”
According to Chief Minister Bommai, closer relations between the state of Karnataka and the Republic of Korea. Which is a leader in technology and the automotive and electronics industries, would spur economic growth on both sides.
“Karnataka may be proud of its long history of strong links with Korea. It is admirable that Korea uses cutting-edge technology to produce high-quality goods. With a trained labor force, India and the state of Karnataka are establishing themselves as essential economies.
India has been a popular choice for investors. About 38 percent of all FDI entering the nation goes to the states, with Karnataka leading the pack, “His office cited Bommai as saying.
According to the Embassy, the meeting was a component of its “Korea on the Move” campaign, which was introduced in Bengaluru from July 4–8. Additionally, from July 6–10, it will host Korea Fair in Bengaluru.
The Ministry of Commerce, Industry, and Energy (MOTIE) of Korea reports that bilateral trade between the two nations exceeded the $21.5 billion (approximately Rs. 1,70,500 crore) mark in 2018 to reach $23.7 billion (about Rs. 1,88,000 crore) in 2021.
This was the most significant amount of commerce between the two nations, up 40% from the $16.9 billion figure from the previous year (roughly Rs. 1,34,000 crore).