India-South Korea

India, South Korea to ink pact for seafarers, boost bilateral ties

India and South Korea signed mutual recognition of certificate of competency of seafarers to provide Indian seafarers employment on over 500 Korean ships. It was signed during four-day visit of Shipping, Road Transport & Highways Minister Nitin Gadkari to South Korea.

Agreement for Seafarers

During the four-day visit, Gadkari will focus on taking forward the bilateral cooperation between India and South Korea in shipping, ports, inland waterways, highways, river interlinking and infrastructure sectors. Known for maritime technology prowess, Korea got partnered with the Ministry of Shipping in the Maritime India Summit held in Mumbai during Apr 2016.

Benefits

The agreement will facilitate Indian seafarers to work on Korean ships as there is requirement of seafarers. Korean entities as of this moment own more than 500 foreign going boats.

Aside from creating job opportunities for Indian seafarers, will also pave the way for reputation of maritime education and training, besides various certificates for seafarers issued by the governments of both the countries

Background

India and Korea have an institutional construction for cooperation through the memorandum of understanding (MoU) for assistance and mutual assistance to facilitate development of slots, port-related industrial sectors and maritime relationship.

Industry body Ficci is partnering to organise a coinciding visit of the business delegation from India, comprising of firms with business interests in maritime, highways and infrastructure.

In 2013, India and South Korea marked the 40th anniversary of diplomatic ties. Although it was only recently that the engagement between the two countries began to deepen, their romantic relationship has proven beneficial in many different areas.

With the new Prime Minister Modi federal government, there is now a greater expectation and enthusiasm for stronger ties between the two countries, and that opportunity should be seized.

India -Soth Korea Relations

With easier usage of conducting business in India under the new govt, more Korean companies from a number of sectors including defense, shipbuilding, garments, and electronic goods will be buying India’s future because they build factories, transferring commercial technology, and producing more local work.

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