PM Narendra Modi in Seoul, South Korea
Prime Minister Narendra Modi has arrived in South Korea this morning on the last leg of his three-nation tour. His discussions with the South Korean leadership will be focused on boosting economic and trade cooperation.
PM Modi will hold talks with President Park Geun-hye on bilateral, regional and global issues and will explore ways to upgrade ties in diversified areas. A number of agreements are expected to be signed.
Considerable significance is being attached to the first state visit to be exchanged between India and South Korea since PM Modi took office in May last year.
Bilateral trade is about USD 16 billion and the two sides are keen to see that it goes up substantially.
There are 300 Korean companies which have invested about USD 3 billion in India. They employ about 40,000 workers in India. India's investment in South Korea is close to USD two billion and Indian companies are looking forward to greater access in that country to pharmaceutical and IT products.
PM Modi will pitch for Korean investment in India when he addresses the India-Republic of Korea CEOs Forum, which could also be attended by his host Ms Park.
The Prime Minister will also meet the heads of several Korean companies that want to invest in India or have already invested.
He will visit the Hyundai Heavy Industries shipyard, with shipbuilding emerging as an important area of cooperation between the two countries.
Before he begins talks with the South Korean President, PM Modi will address a reception hosted by the Indian community, expected to be attended by about 1,500 people.
The Prime Minister flew into Seoul from Mongolia, where he announced a credit line of $1 billion to that country to expand its economic capacity and infrastructure. India and Mongolia decided to upgrade their relationship from Comprehensive to "Strategic Partnership". PM Modi was the first Indian Prime Minister to visit Mongolia.
The PM had begun his foreign tour last week with a three-day visit to China.