Indian Ambassador to Seoul Vishnu Prakash (2nd from righjt) poses with President Alan Timblick (right) of The Seoul Times, and English language educator Min Byung-Chul. At left is CEO & President Kim Ho-Kyeong of World Real Estate Co.

Indian Ambassador to Seoul Vishnu Prakash celebrated the 65th Republic Day of India in a special ceremony held at Seoul’s Millennium Hilton Hotel on Jan. 23, 2014.

Around 500 both local and international guests including scores of foreign ambassadors serving in Seoul took part in the dinner reception event. They included a number of South Korean government officials, local politicians, and business leaders.

This year marks 41st anniversary of establishment of diplomatic relations between India and South Korea.

Among the dignitary participants were diplomat-turned-lawmaker Shim Yoon-Joe of the ruling Saenuri Party, CEO Lee Yoo-Il of Ssangyong Motor Co., and President Alan Timblick of The Seoul Times.

During the reception video clippings were played to show the crowds how the two nations have developed mutual ties.

EU Ambassador to Seoul Tomasz Kozlowski (2nd from left) poses with Mr. Min Byung-Chul (2nd from right), CEO & President Kim Ho-Kyeong (left)of World Real Estate Co., and with Director Park of World Real Estate Co.

Also, India’s various traditional performances including songs, dances, and musical instruments were introduced to the audience.

Developing Mutual Ties between India and S. Korea

Since the formal establishment of diplomatic ties between India and South Korea in 1973, several trade agreements have been reached.

Prime Minister Manmohan Singh paid an official visit to Seoul early this March 2012 to forge bilateral strategic partnership through the Nuclear Security Summits and also negotiated on the agreement to simplify visa procedures between the two nations.

South Korea is currently the fifth largest source of investment in India. Both nations cooperated closely in the exchange of expertise in the information technology sectors.

Korean companies such as LG and Samsung have also established manufacturing and service facilities in India. A number of South Korean construction companies are also involved in infrastructural building plans in India such as the National Highways Development Project.

Investments made by major Korean conglomerates such as Samsung, Hyundai Motors, and LG in India amounted to about US$2.3 billion in 2011.

Other Indian companies established in South Korea are Novelis Incoporated and United Phosphorus Limited. By 2011 Indian investments in South Korea exceeded US$1 billion.

Recent efforts to strengthen relationships between the two nations included the establishment of Indian Cultural Centre in April 2011 and the inauguration of the Festival of India on June 30, 2011.

There are about 8,000 Indians residing in South Korea at present. Many of them work for prestigious conglomerates like Samsung and LG and others work as research scholars in reputable institutions.

There are also approximately 2,500 South Koreans pursuing their studies in India.

Located in South Asia the world's seventh-largest country has a population of over 1.2 billion people. The Indian-subcontinent has been renowned for its long cultural wealth and long history. Four of the world’s major religions — Hinduism, Buddhism, Jainism, and Sikhism — also originated from India.

The Indian economy is the world’s 11th largest by nominal GDP and third largest by purchasing power parity (PPP). A multi-lingual and multi-ethnic society, India emerges as one of the fastest-growing major economies in the world.