Hwang Gi-yeon, President of the Korea Export-Import Bank, is working to expand cooperation with India in strategic industries such as shipbuilding, marine, and critical minerals.
The Export-Import Bank announced that Hwang met with Gauranglal Das, the Indian Ambassador to South Korea, on September 3 at the bank's headquarters in Yeouido, Seoul, to discuss economic issues and collaboration in strategic industries between the two countries.
Both sides focused on establishing a local industrial ecosystem in advanced manufacturing sectors, particularly in connection with India's 'Make in India' initiative aimed at boosting the manufacturing sector.
As South Korean companies are currently exploring opportunities in India's shipbuilding and integrated steel mill construction, the two parties reviewed the status of cooperation and discussed support measures for the successful entry and stable operation of South Korean businesses in India.
Discussions also included expanding cooperation beyond shipbuilding and marine to encompass critical minerals, digital technology, artificial intelligence (AI), and clean energy transition. Both sides acknowledged the need to strengthen supply chain collaboration between India, which possesses key minerals like lithium, and South Korea, known for its technological capabilities.
Hwang stated, "India is a key economic cooperation partner for South Korea, with significant synergy potential in manufacturing and advanced industries. We will continue to serve as a financial bridge to support the expansion of our companies into various strategic industries in India."
* This article has been translated by AI.
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