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Korea Envisions Productive Partnership With Odisha

23 September 2019

Debashish Maharana

Bhubaneswar: Almost about two and half years after steel major Posco officially announced its pulling out of Odisha, in a bid to woo investments, the State government on Monday threw a red carpet welcome to a nine-member business delegation from the Republic of Korea.

The nine-member South Korean delegation led by Ambassador Shin Bong Kil on Monday met Chief Minister Naveen Patnaik at the Lok Seva Bhawan here and evinced keen interest in investing in the State in various sectors, official sources revealed.

Welcoming the delegation, the Chief Minister said that there is a significant opportunity for both Korea and Odisha to strengthen trade, investment and tourism exchanges.

"Our State along with being the most resource rich State of India, has also been consistently ranked amongst the top three States in terms of live manufacturing investments and the first in implementation of industrial projects in India," the Chief Minister pointed out.

Speaking about the State's six focus sectors namely-Electronics manufacturing, Petroleum, Chemicals and Petro-Chemicals, Textiles, Tourism and Downstream to Metal and Food Processing, he said the State would facilitate growth of these industries byproviding a conducive business environment, industry-ready infrastructure and skilled workforce.

Expressing that Korea and Odisha have many possibilities to collaborate across identified focus sectors, he said the State would soon promulgate a strategy document Vision 2030 which aims to ensure 50 percent of the primary metals produced in the State is value added within the State.

"In addition, Bhubaneswar is home to some of the largest IT companies in the world and with the advent of embedded systems driven industry4.0, the planned electronic manufacturing cluster, with ready-built sheds and a walk-to-work development plan, near the IT behemoths would be an ideal place for electronics products manufacturing by Korean companies," he said.

Korean Ambassador Shin Bong Kil appreciated the vision of the Chief Minister and the keeness of the Odisha government for investment and industrialisationin the State.

He expressed strong possibilities of investment in various sectors including agriculture, horticulture, fisheries and services.

"Actually we are well aware of the strengths and competitiveness of Odisha. We are also eyeing other possibilities in the agricultural sector and forestry.Actually we are interested in every sector not just agriculture. Of course commodities, manufacturing, service and all areas," said Heechul Jung, Chief Representative Korea International Trade Association, a member of the delegation.

"This is our first step. Many of us are here for the first time and considering that its a lot of progress what we heard today.We need to see how it goes. We will definitely keep Odisha in our heart," he added.


Naveen Patnaik, Chief Minister, Odisha

Shin Bong Kil, Korean Ambassador

Heechul Jung, Chief Representative Korea International Trade Association