South Korea president eyeing nuclear business on India trip


South Korea’s president will arrive on Wednesday in India on an official visit during which she is expected to push for some of the South Asian nation’s nuclear business, officials said.

India and South Korea, two of Asia’s biggest economies, struck a civilian nuclear agreement in 2011 and now Seoul is exploring possibilities for a nuclear project.

The South Korean President Park Geun-hye is due to arrive on Wednesday and is leaving on January 18.

The first time South Korea raised the subject of building a plant officially was during a 2012 meeting between Prime Minister Manmohan Singh and Park’s predecessor, Lee Myun-bak.

But India has indicated it would first want to see a demonstrator unit because it is not acquainted with Korean nuclear plant design.

“We haven’t even got into the feasibility issues (of a plant) so the issue of identifying possible sights (for the project) only comes after that,” foreign ministry spokesman Syed Akbaruddin told reporters.

“We’d desire on part of the India’s department of atomic energy to first consolidate the civilian nuclear programme before looking at new rights and (nuclear) programmes,” the ministry spokesman added.

Park will be visiting India days after the country’s environment ministry gave the go-ahead for a POSCO steel plant in the eastern state of Orissa, nearly a decade after the project was first agreed.

POSCO has acquired land needed for the project and “very recently environment ministry too has given its clearance for the next five years. With this, we hope the POSCO project can move forward,” the spokesman said.

But the eight-million-tonne-a-year plant’s captive port and related infrastructure projects still need clearance.

In other areas such as defence and security, Delhi-Seoul ties have been forging ahead.

“We do have a wide ranging defence relationship, working together on defence research and development, anti-piracy operations in the Gulf of Aden besides joint naval exercises with South Korea,” the foreign ministry spokesman said.

India is poised to make the first purchase of South Korean military equipment in the form of minesweepers, local media reported.

South Korea is also expected to seek more access to Indian markets especially for auto and steel, reports say.

The two countries signed a Comprehensive Economic Partnership Agreement in 2009 but Seoul believes rival Japan got a better deal.





Source : Channel News Asia | January 13, 2014


About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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