THE REPUBLIC OF KOREA (SOUTH KOREA)

NEWS: Official visit of South Korean President Lee Jae-myung to India, the two nations signed a landmark Memorandum of Understanding (MoU) à enhance cooperation in the MSME sector.

About

• South Koreaà A high-tech, industrialized nation in East Asia, known for its rapid economic development (the Miracle on the Han River)
• Occupies the southern portion of the Korean Peninsula in East Asia.
• It shares its only land border with North Korea to the north along the heavily fortified Korean Demilitarized Zone (DMZ).
• Surrounded by the Yellow Sea to the west and the Sea of Japan (East Sea) to the east.
• Major rivers like the Han River (flowing through Seoul) and the Nakdong River à vital for the country’s industry and agriculture.

Key Features India–South Korea MSME MoU

• Establishing a structured phygital platform for Indian and South Korean MSMEsà to find partners for joint ventures and technical cooperation.
• A formal commitmentà to share best practices in MSME policy and exchange information on trade and investment opportunities.
• Focused support for tech-transfer between South Korea’s Ministry of SMEs and Startups and India’s MSME ministry to boost inclusive growth