Korea

<div class="main-content"> <h2>SUCCESS STORY</h2> <p>Korea over decades have proved itself incredible in terms of economic growth and global integration to become a high-tech industrialized economy.</p> <p>In the 1960s, the country’s GDP per capita was invariably low, as compared to 2004, where then it joined the trillion-dollar club of world economies. Battling its long-term challenges, including factors like population, power of large conglomerates (chaebols) and reliance on exports, today the country knows best how to play smart to prioritize structural reforms accordingly, which has helped it to lead as the world’s fastest growing economies of the world.</p> <h2>WHY KOREA</h2> <p>South Korea (commonly referred as Korea) stands out because of its economic and human-development achievements. Ranked as world’s fastest growing economy since 1960s and popular as a Smart City, the country has excelled in fields of education, quality of healthcare, ease of doing business, government transparency and job security.</p> <p>Korea's standard of living, in comparison with America, has barely missed a beat. If the Korean economy goes on growing at 4.5% a year and America's at 2.5%, Korea would overtake America (in PPP terms) only a few years later (refer to the graph below).</p> <div class="img-align-right"><img alt="map" data-entity-type="file" data-entity-uuid="7d0f6a57-412b-464a-89ba-6689618b8217" src="/sites/default/files/inline-images/index-korea.png" /> <p><a href="http://www.economist.com">http://www.economist.com</a></p> </div> <div class="content-align-left"> <p>The South Korean government aims to transform the country into one of the top 10 business friendly economies in the world. It’s keen to encourage foreign investors and has been making efforts to ease excessive regulations and provide incentives for&nbsp;<strong>Foreign Direct Investment (FDI).</strong></p> <p>The incentives include:</p> <ul class="red-circle"> <li>tax support</li> <li>cash grants</li> <li>site location support</li> </ul> <p>The other key reasons to look at South Korea as an economy are:</p> <ol> <li> <p>The sovereign state is popularly referred as the “start-up powerhouse”. Simultaneously, it also houses multinational conglomerate corporations like LG and Samsung.</p> </li> <li> <p>The country ranks number one when it comes to highest broadband speed of 100 megabytes. It also leads the world in 4G mobile usage, with plans to invest USD1.7 billion in 5G by 2020.</p> </li> <li> <p>It’s one of the world leaders in fields of patent activity, manufacturing, oil &amp; gas, information technology and productivity. Tops the chart of having the highest average wage income in Asia.</p> </li> <li> <p>It ranks 8th when it comes to International Trade and is World’s 7th largest Exporter. 15 Free Trade Agreements (FTA) currently in place and 11 more under negotiation.</p> </li> <li> <p>74% of South Koreans undertake postgraduate-level education, with 7% of Gross Domestic Product (GDP) spent on education.</p> </li> </ol> </div> <h2>INDIA and KOREA</h2> <p>Despite having similar backgrounds to start with, South Korea has a lot in store for us to learn from in fields of Business, Culture and Knowledge. Both South Korea and India, officially the hottest major economy as per the new GDP computation methodology, makes for a good round of comparison as follows:</p> <ul class="red-circle"> <li>Both countries were roughly the same size in 1990 (about $300 billion in GDP)</li> <li>Historically suffered from extensive poverty and have hostile neighbours</li> <li>Both began to assert their economic might from the late ’80s</li> <li>Suffered endemic corruption and rent-seeking behaviour</li> <li>Both have a key common factor- the population size</li> </ul> <p>Names like Samsung, Hyundai, Posco, LG and Kia have asserted themselves globally. Conversely, India’s largest companies have grown either on domestic strengths or as service providers to the developed world.</p> <p>But interestingly, all these Korean companies have a significant Indian presence but corporate India’s presence in South Korea is marginal. However, this calls for us to tap South Korea next as our key area. Have a look below:</p> <p>1. Korea’s per capita wealth is more than India. The per capita GDP grew 20-fold from 1963 to 2013.</p> <p>2. It has one of the world’s highest post-graduation rates.</p> <p>3. It has developed export capabilities in automobiles, ships and steel while India’s export is dominated by gems, textiles and food items.</p> <p>4. India’s largest automobile exporter is also a Korean company – Hyundai.</p> <p>5. South Korea has reduced the number of days it takes to start a new business, from 17 days in 1990 to 4 days, while in India it takes 26 days.</p> <h2>EXPORTS AND IMPORTS</h2> <p>Major Exports are automobile, wireless communication devices, semiconductor, petroleum products, ship structure and parts, liquid crystal displays (LCDs).</p> <p>Major imports are oil, semiconductor, petroleum products, steel, and semiconductor manufacture equipment.</p> <div class="wrap-listing-data clearfix"> <div class="wrap-list align-left"> <h6>KEY INDUSTRIES:</h6> <ul> <li> <p><strong>Electronics </strong>– South Korea is a global leader in electronics manufacturing, including semiconductors and televisions. South Korean companies, Samsung and LG, is a global leader in smartphone sales.</p> </li> <li> <p><strong>Shipbuilding </strong>– The world’s three top shipbuilding companies are all from South Korea: Hyundai Heavy Industries (HHI), Samsung Heavy, and Daewoo Shipbuilding and Marine Engineering (DSME).</p> </li> <li> <p><strong>Automotive</strong> – Korea is world’s fifth largest automobile producer by units produced and is home to the Hyundai Motor Company – the world’s fastest growing automaker by brand. Global car demand is expected to continue rising.</p> </li> <li> <p><strong>Petrochemicals </strong>– South Korea’s Ministry of Trade, Industry and Energy (MOTIE) is forecasting strong growth for the South Korean petrochemicals industry due to increased demand from key markets, in particular China.</p> </li> <li> <p><strong>Metal and Machinery products </strong>- About 600 South Korea companies’ are registered in Metals, Machinery &amp; Engineering category, marking a rank in global map, primarily into basic metal product business.<br /> &nbsp;</p> </li> </ul> </div> <div class="wrap-list align-right"> <h6>EMERGING INDUSTRIES:</h6> <ul> <li> <p><strong>Biotechnology</strong>&nbsp;– The South Korean Government funds the&nbsp;<a href="http://www.kribb.re.kr/eng/">Korea Institute of Bioscience and Biotechnology (KRIBB)</a>&nbsp;that’s exploring potential solutions to problems facing humanity. Areas of research that may lead to commercialisation include medical treatment, food, energy, and the environment. Privately owned South Korean companies are making inroads in the biopharmaceutical field.</p> </li> <li> <p><strong>Internet software and services</strong>&nbsp;– Koreans are avid consumers of digital media and apply the lion’s share of their bandwidth resources to online gaming. Google has taken an active role in nurturing South Korean Internet software and services companies, introducing their favourites to the US to help them build a global profile.<br /> In 2013, South Korean President Park Geun-Hye announced the desire for a more ‘creative economy’ and launched the new&nbsp;<a href="http://english.msip.go.kr/english/main/main.do">Ministry of Science, ICT and Future Planning.</a></p> </li> <li> <p><strong>High-tech communication</strong>&nbsp;– South Korea has transformed into a high-tech economic heavyweight, having applied substantial resources to research and development. As a result, the country is now the world leader in patent activity, along with information and communication technology.</p> </li> <li> <p><strong>Tourism</strong>&nbsp;– The contribution of the tourism industry to the South Korean economy is expected to grow more than double the average. Growing smart city, it has built smart infrastructure over time enabling citizens to have easy access to public services, life information and leisure activities using smart phones and tablet PCs.</p> </li> <li> <p><strong>Sports infrastructure - </strong>South Korea has a proven track record of delivering large scale sporting and entertainment events, and will be hosting the Winter Olympics in Pyeongchang 2018. This will bring huge opportunities for companies in marketing and ticketing, hospitality and catering, advanced IT, green building and design, including stadium and accommodation build and low carbon solutions.</p> </li> </ul> </div> </div> </div>

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Sun, Sep 25, 2016 The Ritz-Carlton (Ballroom)
19:30 - 12:00
Networking Dinner
Networking Dinner

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Mon, Sep 26, 2016 Venue: The Central Park Hotel, Songdo
08:00 hrs - 09:30 hrs
The Ritz-Carlton, Seoul to Incheon
The Ritz-Carlton, Seoul to Incheon

09:30 hrs - 10:00 hrs
Registration
Registration

(Diamond Hall, 3rd floor) – Group 1&2

10:00 hrs - 10:05 hrs
Opening ceremony – Lamp lighting
Opening ceremony – Lamp lighting

* Yoo,Jeong-bok, HP Singh, Vikram Doraiswami, Lee,Kang-shin, Mr. Hong Ki-won

10:05 hrs - 10:30 hrs
Welcome and Keynote speeches
Welcome and Keynote speeches

Mr. Yoo, Jeong-bok, Mayor of Incheon Metropolitan City

Mr. HP Singh, Managing Director & Founder of Global Social India Foundation

Mr. Vikram Doraiswami Indian Ambassador to Korea

Mr. Lee, Kang-shin, Chairman of Incheon Chamber of Commerce & Industry

- Group 1&2

10:30 hrs - 10:50 hrs
Investment Presentation by Mr. Park, Cha...
Investment Presentation by Mr. Park, Chan-hoon, Director of International Cooperation Division, Incheon Metropolitan City

- Group 1&2

11:00 hrs - 12:00 hrs
Meeting
Meeting

B2B Meeting

(Diamond Hall, 3rd floor) – Group 1 only

 

Briefings on Incheon Economy and Smart city 

(Ruby Hall, 2nd floor) – Group 2 only

 

12:00 hrs - 13:00 hrs
Lunch
Lunch

- Group 1&2

13:00 hrs - 15:30 hrs
B2B Meeting
B2B Meeting

(Diamond Hall, 3rd floor) – Group 1 only

15:40 hrs - 17:30 hrs
Visit to the IFEZ Promotion Center at th...
Visit to the IFEZ Promotion Center at the G-Tower, 33rd floor

G-Tower to Seoul

- Group 1 only

13:10 hrs - 13:50 hrs
Visit to the IFEZ Promotion Center at th...
Visit to the IFEZ Promotion Center at the G-Tower, 33rd floor

Group 2 only

14:00 - 17:20
Visit to the Wolmi Traditional Garden an...
Visit to the Wolmi Traditional Garden and Observatory

Wolmi Traditional Garden to Seoul

- Group 2 only

18:30 hrs - 20:30 hrs
Ritz Carlton to Myeongdong Market
Ritz Carlton to Myeongdong Market

- Myeongdong Market visit

20:30 hrs - 21:30 hrs
Dinner
Dinner

- Departure for Ritz Carlton

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Tue, Sep 27, 2016 Venue: The Ritz-Carlton Hotel, Gangnam-gu
09:00 - 09:30
Registration
Registration

09:30 - 09:45
Welcome Address by Mr. HP Singh (Founder...
Welcome Address by Mr. HP Singh (Founder, Tomorrows India)

Lamp Lighting Ceremony

Mr Dongrok Suh – Deputy Mayor, Seoul Metropolitan City

His Excellency Mr Vikram Doraiswami – Ambassador, Embassy of India, Korea

Mr HP Singh – Founder & Managing Director, Tomorrow’s India

9:45 - 10:15

Opening Keynote – His Excellency Mr Vikram Doraiswami, Indian Ambassador

 

Keynote Address – Mr Dongrok Suh, Deputy Mayor - Seoul Metropolitan City

10:15 - 10:45

Presentation by Seoul Metropolitan City (Director Kim, Investment Division)

 

Presentation by Surat Municipal Corporation (Rajesh Pandya, Deputy Commissioner)

10:15 - 12:15
Industry Specific B2B Meetings
Industry Specific B2B Meetings

10:45 - 11:00
MOU Signing Ceremony – Seoul Metropolita...
MOU Signing Ceremony – Seoul Metropolitan City with KIBC – GSIF to promote business between Seoul Metropolitan City and India

11:15 - 12:15
Panel discussion “Indo Korea Business – ...
Panel discussion “Indo Korea Business – The Road to Development”

Moderator - Shailesh Pathak,

Panelist – Devita Saraf, Pramod Saxena, Jongbaek Park, Padmaja Ruparel, Samuel Hyun

12:15 - 12:30
Tomorrow’s One - Tomorrow’s India Next L...
Tomorrow’s One - Tomorrow’s India Next Level

12:30 - 13:15
Networking Lunch
Networking Lunch

13:15 - 14:00
Sectoral Opportunities & Growth Prospect...
Sectoral Opportunities & Growth Prospects – Presentations by PwC

Startups leave for Accelerate Korea Program (Seoul Global Startup Centre, Yongsan)

 

 

Industry Specific B2B Meetings (Sorak 1, Sorak 2 & Halla Room) - (13:15 hrs - 15:15 hrs)

14:00 - 14:30
International Showcase
International Showcase

  • South Africa
  • Federal Democratic Republic of Ethiopia
  • Republic of Indonesia

14:45 - 15:15
Company Presentations
Company Presentations

  • Tata Projects
  • ThoughtLeadersMe

15:15 - 15:30
Digital India & Smart Cities E-Book Laun...
Digital India & Smart Cities E-Book Launch: An IIT Korea Initiative

15:30 - 16:30
Company Felicitations
Company Felicitations

  • Avant Garde Innovations
  • Kama Ayurveda
  • Oxigen Services India Private Limited
  • Su-Kam Power Systems Limited
  • Tata Projects Limited

16:30 - 16:40
Presentation by Korea Plus
Presentation by Korea Plus

16:30 - 17:15
Startups Pitching Session (Sorak 1)
Startups Pitching Session (Sorak 1)

16:40 - 16:45
Vote of Thanks & Announcement of Destina...
Vote of Thanks & Announcement of Destination Next

18:30 - 19:00
Departure for Oorja Cultural Show at The...
Departure for Oorja Cultural Show at The Floating Island

19:30 - 22:30
Oorja Cultural Show followed by Cocktail...
Oorja Cultural Show followed by Cocktail Dinner

22:30 - 23:00
Departure to The Ritz-Carlton Hotel
Departure to The Ritz-Carlton Hotel

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Wed, Sep 28, 2016 Venue: The Ibis Ambassador Hotel, Suwon
08:00 hrs - 10:00 hrs
The Ritz-Carlton, Seoul to Gyeonggi-do
The Ritz-Carlton, Seoul to Gyeonggi-do

10:00 hrs - 10:30 hrs
Registration
Registration

Group 1&2

10:30 hrs - 11:00 hrs
Welcome and Keynote speeches
Welcome and Keynote speeches

Mr Yang Bok Wan, Vice Governor of Gyeonggi Province

Mr. HP Singh, Managing Director & Founder of Tomorrow’s India

11:00 hrs - 11:30 hrs

Presentation by Surat Municipal Corporation (Rajesh Pandya, Deputy Commissioner)

Presentation by Gyeonggi Provincial Government (Park Kyung Hwa)

11:30 hrs - 12:00 hrs
Meeting Gyeonggi and Surat Municipal Cor...
Meeting Gyeonggi and Surat Municipal Corporation between Vice Governor

12:00 hrs - 13:00 hrs
Lunch
Lunch

Group 1&2

13:00 hrs - 16:30 hrs
Breakout Sessions - Industry Specific B2...
Breakout Sessions - Industry Specific B2B Meetings

Group 1

16:30 hrs - 18:00 hrs
Ibis Ambassador Hotel to Ritz Carlton, S...
Ibis Ambassador Hotel to Ritz Carlton, Seoul

Group 1

13:00 hrs - 16:30 hrs

Visit to Hwaseong Fortress (UNESCO World Heritage Centre)

Hwaseong Fortress to Creative & Innovation Centre, Pangyo

 

Group 2

16:30 hrs - 18:00 hrs
Pangyo to Ritz Carlton, Seoul
Pangyo to Ritz Carlton, Seoul

Group 2

19:30 hrs - 22:30 hrs
Networking Dinner at The Garden Restaura...
Networking Dinner at The Garden Restaurant, Ritz Carlton

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Thu, Sep 29, 2016
10:00 HRS - 10:30 HRS
Checkout
Checkout

16:00 hrs - 17:30 hrs
The Ritz-Carlton, Seoul to Incheon Airpo...
The Ritz-Carlton, Seoul to Incheon Airport

Sun, Sep 25, 2016
19.30 - 21:00
Networking Dinner
Networking Dinner

Mon, Sep 26, 2016
7:00 - 8:00
Breakfast
Breakfast

8:00 - 9:00
Travel to Lotte World
Travel to Lotte World

9:15 - 13:00
Lotte World
Lotte World

13:00 - 14:00
Lunch at Lotte World
Lunch at Lotte World

14:00 - 15:00
Travel to Korea University
Travel to Korea University

15:00 - 17:30
Korea University
Korea University

17:30 - 18:30
Korea University to Myeong-dong Market, ...
Korea University to Myeong-dong Market, Seoul

19:00 - 21:30
Explore Myeong-dong Market
Explore Myeong-dong Market

21:30 - 22:30
Dinner at Ganga Restaurant/ Taj Restaura...
Dinner at Ganga Restaurant/ Taj Restaurant

Tue, Sep 27, 2016
8:00 - 08:30
Breakfast
Breakfast

8:30 - 8:45
Depart to Ritz Carlton
Depart to Ritz Carlton

9:00 - 9:15
Welcome address/keynote - Indian Embassy...
Welcome address/keynote - Indian Embassy and Seoul Metropolitan Government

10:00 - 10:30
Presentation by Korea Plus (Invest India...
Presentation by Korea Plus (Invest India)

10:30 - 11:00
Presentation by the Seoul Metropolitan G...
Presentation by the Seoul Metropolitan Government (Policies & Guidelines for International Trade & Investments)

11:30 - 12:00
Panel: Indo-Korea Trade/Investments
Panel: Indo-Korea Trade/Investments

12:00 - 13:00
Lunch
Lunch

13:00 - 13:30
Panel: Women Entrepreneurship
Panel: Women Entrepreneurship

13:30 - 14:30
Breakout Sessions - Industry Specific B2...
Breakout Sessions - Industry Specific B2B Meetings

16:00 - 17:30
Seoul National University
Seoul National University

Travel back to Ritz-Carlton

18:30 - 19:30
Ritz Carlton, Seoul to Floating Island (...
Ritz Carlton, Seoul to Floating Island (Sevit)

20:00 - 22:30
Oorja Cultural performance & DInner at F...
Oorja Cultural performance & DInner at Floating Island (Sevit)

22:30 - 23:30
Floating Island (Sevit) to Urban Place
Floating Island (Sevit) to Urban Place

Wed, Sep 28, 2016
8:00 - 9:30
Yonsei University
Yonsei University

9:30 - 12:00
Entrepreneurship Talk
Entrepreneurship Talk

12:00 - 13:00
Lunch - At the University Canteen/ Cafet...
Lunch - At the University Canteen/ Cafeteria

13:00 - 15:00
Travel to Samsung Electronics, Suwon
Travel to Samsung Electronics, Suwon

15:00 - 17:00
Guided Tour of Samsung Electronics, Suwo...
Guided Tour of Samsung Electronics, Suwon

17:30 - 19:30
Samsung Electronics, Suwon to Myeong-don...
Samsung Electronics, Suwon to Myeong-dong

19:30 - 20:30
Dinner at Taj, Myeong-dong
Dinner at Taj, Myeong-dong

20:30 - 22:30
Myeong-dong market visit
Myeong-dong market visit

22:30 - 23:30
Market to Urban Place
Market to Urban Place

Thu, Sep 29, 2016
8:00 - 9:00
Breakfast
Breakfast

9:00 - 16:00
Seoul City Tour & Lunch
Seoul City Tour & Lunch

N-tower,  Palace,  Jogyesa (temple),  Insadong street tour

14:00 -
KTX experience: Departure to airport
KTX experience: Departure to airport