Park courts Indian IT firms

South Korean President Park Geun-hye met Indian information technology experts and business leaders on Friday, aiming to bolster business ties between the two Asian countries.

In a meeting with two-dozen IT experts, Park stressed that the two countries, both strong in hardware and software technology, could generate synergy if they build cooperation in the sectors.

Park is on her four-day state visit to India and leaves for Switzerland on Saturday.

“South Korea and India have global competitive edges in hardware and software of ICT (information communication technology), respectively, but we can’t be complacent, considering the rapidly changing global ICT environment and technological advancement,” Park said.

“South Korea, though globally competitive in hardware, needs to be backed up by more software talent, while India, though boasting of a globally competitive software industry, is being chased by emerging economies,” she said, calling for closer ICT cooperation between the two sides.

Prior to the meeting, Park also visited an IT expo hosted by South Korean government to help small and medium-sized companies to enter India’s fast-growing IT market. About 25 Korean firms and two Indian companies put their products on display.

Park said in her speech during a lunch meeting with top business leaders that South Korea and India have great potential for economic cooperation as they have cultural and emotional similarities because the two have a long history and suffered from colonial rule.

She put forth three points to focus on for the two countries to move their economic cooperation forward: deepening IT cooperation, promoting greater cooperation among smaller firms and upgrading the CEPA.

(From news reports)