Industry & Economy
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Foreign Trade
Hyderabad inks trade pact with Korean city
Our Bureau
SISTER CITIES: The Suwon city team members clicking pictures at the arrival of Mr Kim Young-seo, Mayor of Suwon in the Republic of Korea, at the Adminstrative Staff Collage of India in Hyderabad on Thursday. - A. Roy Chowdhury
Hyderabad
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March 3
THE State Government has invited Korean IT, electronics and telecom majors such as Samsung and SK Telecom to invest in the State and has assured them of necessary support.
A delegation from Suwon City, South Korea called upon the State Chief Minister, Dr Y. S. Rajashekhara Reddy on Thursday. Dr Reddy said that both should work towards mutual cooperation, according to the Commissioner for Municipal Corporation of Hyderabad, Ms Chitra Ramachandran.
Suwon and Hyderabad signed a memorandum of understanding (MoU) to boost mutual cooperation.
As per the MoU, both cities shall co-operate in trade, environment management, city development, culture and tourism, while retainingthe cultural characteristics and traditions of each city.
The Suwon Mayor, Mr Kim Yong-Seo, said that the city is located in the middle of the Korean peninsula and is home for Samsung Electronics and SK Telecom.
Being a hub of Korean high-tech industry, there is potential for cooperation in the areas of semiconductors, nano and biotechnologies as well as tourism.
The MCH Commissioner requested the Korean delegation to adopt some educational institutions and parks so that this relationship could possibly expand to other areas.
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