PUBLICATION IN INDIA
Korean Companies Indian Dream
South Korea has developed speciality in technology that is of standard of most developed countries like America. Rajya Sabha TV travelled to Seoul to take stock of Samsung and Hyundai. In a brief visit to these two companies that have vast presence in Indian market, the feeling of their work culture and endeavour was quite remarkable.
Hyundai Motor Group, Samsung Electronics and LG Group have been the leader among the Korean companies that have invested in India. Indian companies like Mahindra and Mahindra, Tata Motors, and banks like State Bank of India and Bank of Baroda have large investments in South Korea.
Korean Companies Indian Dream
- Samsung One of the most well-known Korean companies in India, Samsung has a significant presence in the country. …
- LG Another prominent Korean companies, LG has been operating in India for many years. …
- Hyundai Hyundai is indeed a major player in the Indian automobile market. …
- Kia Motors Kia Motors Corporation, commonly referred to as Kia, is a South Korean companies automobile manufacturer
Indian Companies Korean Dream
Indian companies have been increasingly establishing their presence in South Korea over the past couple of decades, reflecting the deepening economic ties between the two countries. While South Korea is known for its advanced technology and manufacturing sectors, Indian companies are tapping into opportunities in areas like IT services, pharmaceuticals, automotive, energy, and consumer goods.
Tata Group
Tata Motors has been involved in exploring opportunities in South Korea, especially after acquiring Daewoo Commercial Vehicle Company in 2004, which became Tata Daewoo. Tata Daewoo is headquartered in Gunsan and is one of South Korea’s major truck manufacturers. It exports vehicles to several countries and plays a key role in Tata Motors' global strategy.
Mahindra
Mahindra entered South Korea by acquiring SsangYong Motor Company in 2010. Though the partnership faced challenges, it marked one of the largest Indian investments in South Korea at the time. Despite eventually reducing its stake, Mahindra contributed to SsangYong’s product development and global outreach.
Infosys
Infosys company offer software development, consulting, and outsourcing services, particularly in industries like finance, telecom, and manufacturing.Leading Indian IT services companies like Infosys, Tata Consultancy Services (TCS), and Wipro have set up offices in South Korea to support local clients and multinational corporations.
TCS, and Wipro
Leading Indian IT services companies like Infosys, Tata Consultancy Services (TCS), and Wipro have set up offices in South Korea to support local clients and multinational corporations. These companies offer software development, consulting, and outsourcing services, particularly in industries like finance, telecom, and manufacturing.
Sun Pharma
Indian pharmaceutical companies such as Sun Pharmaceutical Industries have entered the South Korean market through collaborations and partnerships, aiming to provide affordable generics and specialty medications.
Larsen & Toubro (L&T)
L&T, a major engineering and construction firm, has been active in various infrastructure and energy projects in collaboration with Korean firms or in joint ventures abroad where Korean technology is involved.
Trade and Bilateral Relations Support
The India-Korea Comprehensive Economic Partnership Agreement (CEPA), signed in 2009 and upgraded in 2019, has facilitated smoother trade and investment flows.
Organizations like KOTRA (Korea Trade-Investment Promotion Agency) and Invest India also help Indian companies enter and expand in the Korean market.
Challenges Faced
Language barriers, cultural differences, and regulatory complexities are common challenges Indian companies face in Korea.
Strong local competition and consumer preferences also require companies to adapt their strategies.
Opportunities Going Forward
With South Korea’s focus on digital transformation, green energy, and R&D, Indian firms in tech, clean energy, and biotech are likely to find new growth avenues.
Collaborations in semiconductors, AI, and space tech are also on the rise.