1. On April 16, 2025, the Ministry of Foreign Affairs held a meeting with representatives of Korean businesses operating in India and relevant experts to discuss strategies for supporting those companies. This session, led by Director-General Kim Sang-hoon of the Asia-Pacific Affairs Bureau, marked the third of its kind after those held in the first and second halves of the year 2024. It aimed to hear directly from Korean businesses operating in India and explore solutions to their challenges.

※ Participating Companies (in alphabetical order): HD Hyundai Construction Equipment, Hyosung TNC, Hyundai Motor Group, Krafton, Lotte Wellfood, Mirae Asset Securities, Samsung Electronics, SD Biosensor, Simmtech

※ The 2024 meetings were held on March 27 (Wednesday) and October 22 (Tuesday).

2. Director-General Kim said, “India, the world’s most populous nation and an economic power growing at more than a six-percent rate annually, is Korea’s key partner for diplomacy and economy.” He highlighted that over 500 Korean companies are currently operating in India, serving as a main pillar of the “Korea-India Special Strategic Partnership,” which marks its tenth anniversary this year. He went on to emphasize the Korean government’s commitment to supporting the Korean companies in India for their stable operations.

※ Korea and India forged a Special Strategic Partnership in May 2015.

3. During the meeting, Kim Kyunghoon, Head of the India and South Asia Team at the Korea Institute for International Economic Policy (KIEP), briefed the participants on the current economic situation in India and its economic policy. Participating companies shared their experiences in India, discussed the local business climate, and offered suggestions on areas where the government could further support their operations.

4. On a side note, the Ministry of Foreign Affairs launched and held the inaugural session of the Korea-India Fast Track Mechanism (FTM) in December 2024, reinforcing the foundation for the resolution of challenges facing Korean companies in India.

※ The FTM allows Korean companies investing in India to raise issues directly with the Indian government and other relevant authorities. Its meetings will be held on a biannual basis, led by the Minister at the Korean Embassy in India and a Director at the Indian Department for Promotion of Industry and Internal Trade. It was first held on December 6, 2024, in New Delhi.

5. The Ministry of Foreign Affairs will continue to step up communication with Korean companies operating abroad including by holding meetings with them, and make various other efforts to help them overcome their challenges so that they can operate stably amid the changing global economic landscape.