SEOUL, A delegation from South Korea's financial sector has been on a trip to India to explore ways to create more investment chances and to boost bilateral ties, a local association said Thursday.
Kwon Yong-won, head of the Korea Financial Investment Association (KOFIA), and CEOs of three local securities firms and four asset management firms arrived in India on Tuesday for a four-day trip at the invitation of the Bombay Stock Exchange Brokers Forum (BBF).
While visiting Bengaluru, which is called the Silicon Valley of India, and the stock exchange in Mumbai, the representatives "could witness the current picture of the country's innovative firms while discussing opportunities to make an investment in its infrastructure," the KOFIA said in a statement.
On Friday, the KOFIA and BBF plans to sign a memorandum of understanding to boost capital market cooperation, with the South Korean entity to make six suggestions to the Indian side, including setting up a joint venture investment fund.
A forum and a discussion session will also be held Friday so as to explore ways to deepen the bilateral ties, according to the KOFIA.
"This visit aims to strengthen practical ties with the Indian capital market that has great potential," the association said. "While fully implementing detailed agreements, we will invite Indian officials to South Korea next to further advance these business ties."
Source: Yonhap News Agency