Karnataka, South Korea collaborate to boost startup ecosystems in Karnataka

New Delhi [India], July 4 (ANI): The Minister for Large and Medium Industries and Infrastructure Development, Government of Karnataka, MB Patil led a series of fruitful discussions with key government officials from South Korea, which involved discussions reflecting the Karnataka Government's commitment to fostering international partnerships and driving economic growth.
These meetings, aimed at bolstering economic relations between Karnataka and South Korea, involved discussions with Vice Governor Hyun Gon Kim of Gyeonggi Province and Mr. Lee Hae Woo, Deputy Mayor for Economic Policy, Seoul Metropolitan Government and Mr. Nishikant Singh, DCM Embassy of India, Seoul.
The fruitful exchanges with South Korean officials and businesses pave the way for enhanced collaboration and mutual benefits in various sectors, solidifying Karnataka's position as a premier investment destination. The meetings were attended by Selvakumar S, IAS, Principal Secretary, Department of Commerce and Industries, and Gunjan Krishna, IAS, Commissioner for Industrial Development and Director, Department of Commerce and Industries.
Vice Governor Hyun Gon Kim of Gyeonggi Province, Mr. Park Seok Ki, Director of Economic Policy, Ms. Park In Seung Director of International Economic Cooperation expressed keen interest on expanding the relationship and forging deeper cooperation between India and Karnataka, particularly in sectors such as electronics, startups, R&D, biotech, and medtech.
Highlighting the similarities between Bengaluru and Pangyo Techno Valley, the talks explored potential collaborations for the upcoming KHIR city near Bengaluru.
Vice Governor Kim extended an invitation to the Karnataka government and companies to participate in the Gyeonggi Startup Summit in September 2024 and the Korean Industry Expo (KoINDEX) in New Delhi in November 2024. The meeting was also attended by Nishikant Singh, DCM Embassy of India, Seoul.
M.B. Patil also had a strategic meeting with Lee Hae Woo, Deputy Mayor for Economic Policy, Seoul Metropolitan Government, and his team including Kang Jin-yong, Director of Startup Policy Division, Kim Yun-ha, Director of Finance & Investment Division, Park Eun-suk, Team Leader of Startup Policy Division, Kim Yoon-jung, Team Leader of Finance & Investment Division, and Gu Bon-hi, Invest Seoul Commissioner, and Nishikant Singh, DCM Embassy of India, Seoul, on mutual business interests in finance, investment, startups, and R&D in Karnataka.
The discussion highlighted Seoul's dynamic economy and vibrant startup ecosystem, as well as Karnataka's rich heritage, prestigious institutions and underscored the state's robust education ecosystem and skilled workforce.
Recognising the existing collaborations between Seoul and Indian startups, including companies like Krafton with offices in Bengaluru, the Government of Karnataka extended an invitation to Korean startups to participate in the Global Startup Challenge - VentuRISE, scheduled in the run-up to the Global Investors Meet (GIM) 2025.
Additionally, discussions were held on introducing student exchange programs between Seoul and Karnataka to leverage India's skilled talent workforce.
The delegation also met with senior executives from KEB Hana Bank, discussing the bank's presence in India and expansion plans, including opening a branch in Bangalore. M.B. Patil highlighted Bangalore as a global city and leader in multiple sectors, emphasising the mutual benefits for both the bank and Korean companies expanding in Karnataka. The government of Karnataka assured support for KEB Hana Bank's application to the Reserve Bank of India for business presence in Bangalore. (ANI)