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S. Korea's SMEs ministry opens tech exchange center in India

All News 22:41 July 10, 2018

SEOUL, July 10 (Yonhap) -- South Korea's Ministry of SMEs and Startups on Tuesday opened a technology exchange center in the India's capital, New Delhi, as part of efforts to boost bilateral trade and investment, its officials said.

The establishment of the center is in line with a bilateral agreement from March last year to carry out a trial project for technological exchanges to boost cooperation among the small and medium-sized enterprises (SMEs) of the two countries.

The ministry said that the center will explore areas of cooperation, such as the medical and cosmetics sectors, mobile services and automotive parts, in which South Korea has achieved technological advancements.

Bilateral cooperative projects are expected to include technological transfers and joint investment programs.

The opening ceremony was attended by 50 dignitaries, including Seoul's SMEs Minister Hong Jong-haak and top Indian officials.

"We plan to offer active support for our SMEs' efforts to diversify their export markets and make inroads overseas through technological cooperation with India," Hong said.

"I hope that technical exchanges among the SMEs of the two countries will help advance India's manufacturing industry to a higher level, create more jobs and help the local economy," he added.

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