india-s.korea

India offers to launch South Korean satellites; ink agreement on
simplifying visa restrictions
PM Dr. M. Singh arrived in Seoul on a four day official visit. India has offered to launch a satellite for
Seoul and invited its businesses to invest in the country, especially in the infrastructure sector. This was
in order enhance ties b/w India and South Korea.
Both nations expressed happiness over the increase in bilateral trade following the signing of the CEPA
(Comprehensive Economic Partnership Agreement) in 2011 and set a target of achieving $ 40 billion trade by 2015.
India and South Korea are to sign an agreement on simplifying VISA restrictions for their nationals travelling to each
others’ country.
Dr. M. Singh will attend the 2012 Seoul Nuclear Security Summit scheduled for March 27-28 2012.

PM invites Korean investments in solar, nuclear sectors
South Korean businessmen were asked by the PM Manmohan Singh to assist India expand its
mushrooming solar and nuclear power sectors by investing in these environment-friendly technologies.
Apparently sensing the concerns of the Korean businessmen with regard to the much-delayed $12 billion
Posco steel project in Odisha, the PM told the CEOs that India’s processes can be slow but there are
effective mechanisms for resolution of problems and differences and a strong rule of law. The government is keen to
move forward with the Posco project and there is some progress in this regard. PM held that India is a stable and
profitable long-term investment opportunity.












India – S.Korea: Key areas of talk b/w the heads of the two nations
During the talks between the Prime Minister, Dr. Manmohan Singh and the South Korean President, Lee Myung-Bak in
Seoul the key areas of discussion b/w the two sides were:-
 South Korea offered by India to launch S. Korean Satellites on ISLVs (Indian Space Launch Vehicles).
 The two sides agreed to expand political and security cooperation.
 The need for comprehensive UN reforms including the expansion of the Security Council to make it more
representative and effective.
 Commitment to nuclear disarmament and non-proliferation of weapons of mass destruction and their means of
delivery.
 The two sides had agreed to upgrade the already booming business cooperation to achieve an ambitious trade
target of 40 billion dollars by 2015, doubling the figure.
 Concern over North Korea’s plan to launch an application satellite which could escalate tension in the peninsula.
 Concern over the continued threat of terrorism and piracy emanating from various quarters.
 India also sought South Korea’s support in its bid for the Membership of the Nuclear Suppliers Group (NSG) and
other international regimes related to nuclear trade.
 S. Korea requested for an allocation of a site in India to build nuclear reactors.

India and South Korea agreed to bolster civil nuclear energy

cooperation as well as space activities, including the launch

of Korean satellites by India. Both sides judged the

developments and expansion of their Strategic Partnership

during the second India-Republic of Korea, Foreign Policy

and Security Dialogue in New Delhi. The two sides reviewed

the status of bilateral relations and exchanged views on

regional and global matters of interest including the position on the KoreanPeninsula.

Green Tribunal suspends environment clearance to POSCO
The National Green Tribunal, suspended the environment clearance granted to South Korean company POSCO’s
proposed mega steel project in Orissa. The National Green Tribunal directed the Union
Environment and Forest Ministry to review afresh the clearance for the long-delayed
project and attach specific conditions which POSCO would have to follow in a defined
timeline.
The tribunal decision has come just days after Prime Minister Manmohan Singh assured South Korean President Lee
Myung-bak in Seoul that the project will be implemented and there was progress on it.