The Hindu : Tamil Nadu / Chennai News : Indo-Korean cultural and information centre opened

Online edition of India's National Newspaper
Thursday, May 11, 2006

Tamil Nadu

Tamil Nadu - Chennai

Indo-Korean cultural and information centre opened

Staff Reporter

"It will help enhance bilateral ties"

CHENNAI: An Indo-Korean Cultural and Information Centre — aimed at complementing the growing ties between India and South Korea, essentially through greater cultural exchanges — opened here on Wednesday.

Inaugurating the centre, located on 6th Main Road, R.A. Puram, Ambassador of the Republic of Korea Choi Jung-il said the centre's opening was significant in the context of the need to diversify the bilateral relationship.

"It [centre] is a symbol of strong friendship between our two countries," he said at a function, attended among others by Honorary Consul-General of Korea Venu Srinivasan and Hyundai Motor India managing director Heung Soo Lheem. They later addressed a press meet.

Noting that more than 200 Korean companies were operating in India, and their number was "increasing very fast," the Ambassador said Korea was the fifth largest investor in India.

On the proposed free trade agreement between India and Korea, he said: "The second round of discussion on the Comprehensive Economic Partnership Agreement was beginning today [in Korea] ... The negotiation would be concluded some time next year."

Complimentary

The nature of the two economies, he said, was complimentary, and the agreement would further promote trade and investment. The bilateral trade, of the order of $2.3 billion, was poised for growth; it recorded a 50 per cent growth in the first quarter of this year.

Mr. Jung-il appreciated the efforts of Mr. Srinivasan, who is chairman and managing director of TVS Motors, in setting up the centre and thanked the Korean community in Chennai and Hyundai.

Describing the Centre as a result of joint efforts and the leadership role played by Hyundai, Mr. Srinivasan said it would disseminate information to Indians about Korea, its culture, language and arts and about India to visiting Koreans. Underscoring the potential of greater economic cooperation, he said the bilateral trade was expected to touch $10 billion by 2008.

The cultural and information centre, he said, was the first Indo-Korean facility of its kind and likely to be a model for others in different cities across the country. The Koreans were the largest foreign community in Chennai, with an estimated 1,000 families staying here.

A release said the Centre would handle trade enquiries, cultural exchanges and Korean language classes.

Printer friendly page
Send this article to Friends by E-Mail