Lee Jae-yong, Chung Eui-sun, Koo Kwang-mo, and Chung Ki-sun Gather in India... 'Accompanying President Lee on Economic Diplomacy'

 \r\n\r\r\n\r [Financial News, New Delhi, India = Reporter Choi Jong-geun]President Lee Jae Myung, who is on a state visit to India, will hold a summit with Indian Prime Minister Narendra Modi on the 20th, local time, and then attend the Korea-India Business Forum. The forum is a major economic event held on the occasion of a South Korean president's state visit to India for the first time in eight years, with more than 600 people from the two governments and business communities in attendance. In particular, business leaders from South Korea, including Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo, POSCO Holdings Chairman Jang In-hwa, HD Hyundai Chairman Chung Ki-sun, Hyosung Chairman Cho Hyun-joon, and Naver CEO Choi Soo-yeon, will gather in one place.
According to the Blue House, about 250 business leaders from South Korea's shipbuilding, steel, electrical and electronics, automotive, and consumer goods sectors will attend the event. On the Indian side, more than 350 business leaders from sectors including chemicals, steel, biotech, and materials will join the discussions on expanding economic cooperation between the two countries. In particular, participants from India include Vijay Sankar, chairman of the Sanmar Group; Ravi Ruia, vice chairman of the Essar Group; Rajiv Memani, chairman of the Confederation of Indian Industry (CII); and Jayant Acharya, CEO of JSW Steel.
President Lee is also expected to call on leading business figures from both countries to invest and cooperate in order to expand into global markets. At the forum sessions, practical cooperation measures between the two countries will be discussed, centered on presentations by POSCO, Hyundai Motor, and Krafton. In addition, a total of 20 private memorandums of understanding (MOUs) are expected to be signed in areas including shipbuilding, digital technology, and energy.
Looking at the details, Hyundai Motor will sign an MOU with TVS Motor Company to jointly develop eco-friendly, high-safety three-wheeled electric vehicles. Working with local companies, the goal is to supply 430,000 units by 2037. HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HDKSOE) will sign an MOU with Indian Institute of Technology Madras (IIT Madras) to cooperate on developing AI-based manufacturing technologies for smart shipyards, and with Sagarmala Finance Corporation and others to formalize support from the central and local governments for building new shipyards in India, as well as the direction of the joint venture equity structure.
The Federation of Korean Industries (FKI) and the Federation of Indian Chambers of Commerce and Industry (FICCI) will sign a cooperation MOU, while POSCO Holdings will sign an MOU with JSW Group on establishing a joint venture for the JSW-POSCO integrated steel mill in India.
Naver will sign an MOU with Tata Group for mutual cooperation in India's map services sector.
GS Engineering & Construction Corp. will sign an MOU with ARI Energy for a wind repowering project in India. The project is valued at 920 billion won. It will also move to establish a strategic partnership with Suzlon Energy in the renewable energy business.
Hyosung Heavy Industries will cooperate with Adani Infra on HVDC technology for modernizing India's power grid, while Hyosung GoodSprings, Inc. will sign an MOU with Jason Group to support the construction of an industrial pump plant.
cjk@fnnews.com Choi Jong-geun Reporter