In the first ever visit to Sikkim and India’s Northeast region, a South Korean mission comprising of senior officials of the Embassy of the Republic of Korea, Korean Trade-Investment Promotion Agency (KOTRA), Korea Startup Certer, K-commerce and industries minister Bedu Singh Panth to explore the feasibility of investment in multiple sectors in the state.

The delegation discussed economic and bilateral cooperation between Korea and the Sikkim government with the Korean officials expressing keen interest in investment in renewable energy projects in the state as it has huge potential for power generation, which is largely untapped.

The two sides also explored the possibility of collaboration between the Korean companies and the state in several other sectors such as pharmaceuticals, food processing, and tourism. The Korean trade delegation promised to share the investment opportunity available in Sikkim with the Korean companies based in India as well as in Korea.

Kwang Seok Yang, the commercial attache, Embassy of the Republic of Korea, stated that, ’Korea has invested mainly in automotive, electronics, and chemical sectors since the 1990s and now intends to expand its interest to various industries such as pharmaceutical, energy, organic farming, food processing, and tourism. I hope, post this visit multiple opportunities open up in Sikkim.’

Moon Young Kim, managing director of KOTRA South Asia Region, said that ,’Korean companies tend to be bold and try to be preemptive, so Sikkim can be one of the favourable destinations considering its various potentials. Based on this, we shall explore multiple opportunities with Korean companies operating in areas like renewable energy, pharmaceuticals, food processing, organic farming, and other sectors. We can leverage each other’s strength for mutual benefit.’