On the third day of his state visit to India, President Moon Jae-in and Indian Prime Minister Narendra Modi attended the Korea-India CEOs Roundtable at the state guest house of the Prime Minister’s Office in New Delhi.
Today’s event was attended by 40 CEOs and government officials from both countries. The participants exchanged ideas on the current economic situation of the two nations, business and investment conditions and areas of interest to major businesses.
President Moon listened to the business leaders describe difficulties they face when carrying out projects. He also complimented the CEOs of both countries for their resiliency in the face of adverse global economic circumstances.
Afterward, the President said that the Governments of the two nations would cooperate so that both Korea and India would become countries with business-friendly environments. He highlighted that the Korean Government, in particular, was always ready to lend its ears to difficulties arising from business activities and that it would proactively work to resolve them.
Sitting at the Roundtable this time were CEOs from 24 leading businesses, 12 each from both nations. Among them, three CEOs from each side gave a presentation on their business plans and made some suggestions to the Governments. Korean businesses present at the gathering included Hyundai Motor Company, Samsung Electronics, LG Electronics, SK Lubricants, CJ, Lotte, Hanwha Defense Systems, Doosan, KB Financial Group, GS Caltex and Korea Investment Corporation.
Attendees from the Indian side included CEOs of Mahindra Group, Reliance Group, Bank of Baroda, Edelweiss Group and Cadila Healthcare. They briefed on joint projects with Korean counterparts in the automobile and finance sectors and requested that the two Governments render enhanced support for the success of their projects.
President Moon also had brief conversations with Chairman Anand Mahindra of India’s Mahindra Group, which acquired Korea-based Ssangyong Motor. Wishing the Chairman success with the group’s business in Korea, the President asked him to invest more in Korea and create a model of success through harmony between management and labor. Inquiring whether the Mahindra Group faced difficulties conducting business in Korea, President Moon noted that while Ssangyong management and labor had reached an accord to reinstate previously laid off employees, issues still remained. The President asked the Chairman if he could look into the matter. The Chairman replied that he believed that management in Korea would be able to solve the issue wisely in cooperation with labor.
President Rashesh Shah of the Federation of Indian Chambers of Commerce and Industry said India could be inspired by and learn from Korea since Korea achieved its economic growth through enormous passion. The FICCI President also wished for progress in Korea-India relations.