The Indian Chamber of Commerce in Korea signed a memorandum of understanding with the Incheon Port Authority early this month to cooperate in connecting businesses of Korea and India, according to the ICCK on Thursday.

The ICCK said the two organizations would act as a bridge between the two countries in terms of investments and national projects. They will share information, such as newsletters, press releases and bulletins, and promote their activities with their members and associated organizations.



“India is one of the fastest-growing large economies in the world, and bilateral trade between India and Korea, increased by more than 25 percent in 2017,” said Vasudev Tumbe, chairman of the ICCK.

“With the signing (of the) MOU with ICCK, Incheon Port Authority is now poised to participate in this growth story and will facilitate enhancement of India-Korea trade going forward,” he added.

Since 2010, the ICCK and embassy of India have collaborated to help both Indian and Korean companies enter the India or Korea markets.

By Shin Ji-hye (shinjh@heraldcorp.com)