CONCEPT – INDIA SOUTH KOREA MOUs 2018

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 CONCEPT – INDIA SOUTH KOREA MOUs 2018

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    • 2018 visit of President Moon Jae-in: India and South Korea signed 11 agreements, including in the areas of trade, cultural and scientific and technological cooperation, during the visit of South Korean President Moon Jae-in to India. The two sides signed a joint statement on
    • Early Harvest Package: The EHP of the upgraded Comprehensive Economic Partnership Agreement (CEPA) was agreed upon. It facilitates ongoing negotiations on upgrading the India-South Korea CEPA, that came into operation in 2010, by identifying areas for liberalisation.
    • List of memorandum of understandings (MoUs) signed:
      1. The first MoU was a joint statement on early harvest package of the upgraded Comprehensive  Economic Partnership Agreement (CEPA) and its objective is to facilitate ongoing negotiations on upgrading the India-South Korea CEPA by identifying key areas for trade liberalisation (including shrimp, molluscs and processed fish).
      2. The second MoU was trade remedies and its objective is for cooperation in the area of trade remedies viz. anti-dumping, subsidy, countervailing and safeguard measures through consultations and exchange of information through establishment of a cooperation committee comprising government officials and domain experts.
      3. The objective of the MoU on Future Strategy Group is for cooperation in the development of cutting edge technologies for commercialisation to reap benefits of the fourth industrial revolution. The thrust areas include internet of things (IOT), artificial intelligence (AI), big data, smart factory, 3D printing, electric vehicle, advance materials and affordable healthcare for the elderly and disabled.
      4. Cultural Exchange Programme for the period 2018 – 2022 is to deepen cultural and people-to-people relations by providing for institutionalised cooperation in fields of music and dance, theatre, art exhibitions, archives, anthropology, mass media programmes and museum exhibits.
      5. MoU on cooperation in the field of scientific and technological research between Council for Scientific and Industrial Research (CSIR) and National Research Council of Science and Technology (NST) suggests for cooperation in scientific and technological research, including in areas of affordable water purification technologies, intelligent transport systems, new/ alternative materials, traditional and oriental medicines and technology packaging and commercialization.
      6. MoU on cooperation between Research Design and Standards Organisation (RDSO) and Korea Railroad Research Institute (KRRI) suggests for cooperation in railway research, exchange of railway related experience and development of railway industries. Both sides will explore planning and execution of joint research projects, including setting-up an advanced railways R&D facility in India.
      7. MoU on cooperation in the field of biotechnology and bio-economics suggests for cooperation in adoption of biotechnology and bio big-data in health, medicine, agro fishery products, digital healthcare, precision medicine, brain research, and next generation-medical equipment.
      8. MoU on cooperation in the field of Information and Communication Technology (ICT) and telecommunications suggests for cooperation in development, modernisation and expansion of state-of-the-art telecommunication/ICT services and next generation wireless communication networks such as 5G, cloud computing, big data, IOT, AI and their applications in services, disaster management, emergency response, and cyber security.
      9. MoU on cooperation in the field of micro, small and medium enterprises between India and South Korea suggests for cooperation in the development of micro, small and medium enterprises in both countries and in improving their competitiveness in global markets.
      10. MoU between government of Gujarat and Korea Trade Promotion Agency (KOTRA) suggests to enhance industrial and investment relations between South Korean companies and Gujarat through cooperation in areas of urban infrastructure, food processing, agriculture related industries, startup ecosystem, skill training and development and new and renewable energy. KOTRA shall open an office in Ahmedabad and will become one of the partner organisations for the Vibrant Gujarat Global Summit 2019.
      11. MoU regarding Queen Suriratna Memorial Project suggests to facilitate upgradation and expansion of the existing monument commemorating Princess Suriratna (Queen Hur Hwang-ok), a legendary Princess of Ayodhya, who went to Korea in AD 48 and married King Kim-Suro.
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