South Korean President Moon Jae-in was in India on a four-day visit from July 8 to July 11, 2018. This was his first visit to India. He was accompanied by First Lady Kim Jung-sook.
Here are the main events that took place during the visit:
1. President Moon attended the India-Korea business forum:
Korean President Moon Jae-in spoke at the India-Korea Business Forum. This was organized by the Federation of Indian Chambers of Commerce and Industry (FICCI).
2. Inaugurated World’s Largest Mobile Factory In Noida:
PM Narendra Modi and South Korean President Moon Jae-in visited Noida and inaugurated the New Mobile Manufacturing Plant of Samsung at Noida. Notably, it is the world’s largest mobile factory. Samsung has Invested close to 5,000 Crore Rupees in this plant and aims to Manufacture 12 Crore Mobile Handsets annually which will result in massive job creation.
3. India & South Korea Signed 5 MoUs In Field Of Science and Technology:
India and South Korea have signed five MoUs in the field of Science and Technology in New Delhi. Science and Technology Minister, Dr Harsh Vardhan and his South Korean counterpart You Young Min signed three MoUs which are Programme of Cooperation 2018-21, Establishment of Future Strategy Group and Cooperation in Biotechnology and Bio-economy.
4. India, South Korea Ink 11 MoUs:
India and South Korea signed 11 MOUs during South Korean President Moon Jae-in’s visit to India. The MoUs signed between the two countries are:
i. Upgraded Comprehensive Economic Partnership Agreement (CEPA) was signed to facilitate ongoing negotiations on upgrading the India-RoK (Republic of Korea) CEPA by identifying key areas for trade liberalization (including shrimp, molluscs and processed fish).
ii. An MoU on trade remedies was signed for cooperation in the area of trade remedies such as anti-dumping, subsidy, countervailing and safeguard measures through consultations and exchange of information.
5. India-Korea Technology Exchange Centre Inaugurated:
The India-Korea Technology Exchange Centre was inaugurated by the Minister of State (I/C) MSME Giriraj Singh and Minister of SMEs and Start-ups of Republic of Korea, Hong Jong- hak in New Delhi. The purpose of the Technology Exchange Centre is to create a platform for micro, small and medium enterprises of India and Korea where they can be assisted to identify and exchange latest technologies, share management expertise, product development and technology applications for product development.
Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
- South Korea Capital- Seoul, Currency- South Korean won.