The President of South Korea, Lee Myung-Bak, urged Indian industry to look at his

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country as an investment destination and defined future cooperation in the field of civil nuclear energy to be “productive” for both the nations.

Speaking at the India-Korea business forum organised jointly by Ficci, CII and Assocham, Myung-Bak said, “We welcome India’s look-east initiative. I want to urge Indian business leaders to look towards Korea as an investment destination.” He said, “We have productivity, safety and experience in nuclear energy,” and collaboration in this area “would make your nuclear energy sector globally competitive.”

He stressed the need to promote people-to-people exchange, especially among engineers and academic scholars, which would enhance the benefits arising out of the comprehensive economic partnership agreement (CEPA) signed between India and South Korea.

Chairman, federation of Korean industry, Suck Rai Cho said, “The Korean economy is looking towards India for investment and trade across different sectors. Korean companies will be looking to invest in infrastructure, particularly road building, power generation and telecom.”

Commerce and industry minister Anand Sharma said there were huge opportunity for companies from both the countries to go into joint ventures and technology exchanges. The two countries could also engage in healthcare, IT and BPO sector, he added.