MORE / #General Awareness

April 04, 2017 @ 01:15 PM

April 04, 2017 @ 01:15 PM

K. J. Somaiya Institute of Management Studies and Research, Mumbai

9 Easy Steps to register for SIMSR (Infographic)

Download Now

PM's South Korea visit - A balancing role in the Asia-Pacific Region.

Published : Friday, 29 May, 2015 12:27 PM

MBA aspirants must be updated with General Awareness on current topics. General awareness topics with analytically drawn conclusions will benefit you in XATIIFTCMATMAT, Essay writing, General Awareness sections besides in WATGD & PI.

Read General Awareness Topic:

P M’s South Korea visit – A balancing role in the Asia-Pacific Region.

The recent three nation tour by India Prime Minister Narendra Modi ended on May 18, 2015 after the visit of South Korea. Prior to Korea, the Prime Minister also visited China and its northern neighbour Mongolia. Over the last few years, there have been frequent visits by the premiers of both nations to boost the bilateral ties. Earlier in 2012 also, then Indian PM Manmohan Singh visited Seoul followed by a visit by his South Korean counterpart to India in 2014. The latest visit by Indian PM was in furtherance to improve the bilateral relation on geopolitical as well as political grounds. While on one hand Indian PM met the representatives from Korean industries to boost ‘make in India’ drive and bring in additional investment in India, his visit can be viewed as a measure to counter China. 

Historical and Cultural Ties

Historical and cultural ties between India and South Korea dates back to the ancient times. According to "SamgukYusa" or "The Heritage History of the Three Kingdoms" written in the 13th century in Korea, a Princess from Ayodhya (Suriratna) in India came to Korea and got married to King Kim-Suro, and became Queen Hur Hwang-ok in the year 48 AD. Several people including some premiers proudly trace their lineage to this royal couple. Korean Buddhist Monk Hyecho or Hong Jiao visited India between 723 to 729 AD. His travelogue "Pilgrimage to the five kingdoms of India" gives a vivid account of Indian culture, politics & society, including food habits, languages & climate.

Bilateral Relations

A new phase of Indian-Korean relations was started in 2006 after the visit of then President of India APJ Abul Kalam to South Korea when a task force was established to conclude Comprehensive Economic Partnership Agreement (CEPA). The final CEPA agreement was signed in 2010. During the Republic Day celebrations of 2010, President of South Korea was invited as the Chief Guest. In July 2011, both the nations signed bilateral Civil Nuclear Energy Cooperation Agreement. In order to boost people-to-people relations and travel between the two countries, India extended visa-on-arrival (VoA) facility for Korean tourists from April 15, 2014. 

Latest Visit

On May 17-18, Indian PM visited South Korea to improve, expand and deepen the already strong bilateral ties between the two countries. Bilateral trade in 2011 crossed $ 20.5 billion registering a 70% growth over a two year period. A revised trade target of $40 billion by 2015 was set by Indian PM and Korean counterpart in 2012, however, trade between two nations has declined since then. With deeper economic cooperation, both the leaders resolved to improve the bilateral trade. Some major agreements signed between the two leaders include –

  • Avoidance of double taxation
  • Formalising consultations between National Security Councils of the two nations
  • Cooperation in Audio-Visual Coproduction
  • Agreement for development of electricity and new energy industries.
  • MoU to strengthen and encourage cooperation on youth matters
  • Framework of Cooperation (FOC) in the Field of Road Transport and Highways.
  • Cooperation in maritime transport and logistics.

Complementary Economies

In many respects, South Korea and India are found to be complementary economies rather than a competitive one. While India can benefit from their expertise in electronics, steel, shipbuilding, automobiles and infrastructure; South Korea can gain from Indian expertise in software, iron ore, design and frugal innovation skills etc. Besides, the aging South Korea just like Japan can benefit from relatively young Indian population where average age is just around 25 years. 

Future Prospects

India is the only country with which Korea maintains a security dialogue besides its four neighbouring powers ― the U.S., China, Japan and Russia. South Korea and India may also become geostrategic partners, with India supporting South Korea’s stance on inter-Korean matters and Seoul throwing its weight behind New Delhi’s balancing role in the Asia-Pacific region.  

Read More General Awareness Topic - PM Modi's South Korea visit

Stay informed, Stay ahead and stay inspired with MBA Rendezvous

Crucial Dates, You Should not Miss

Manav Rachna International Institute
of Research

Admissions Open for all MBA programme at Manav Rachna International Institute of
Research and Studies.
CII School of Logistics Amity University, Delhi and Mumbai
Admissions Open at CII School of Logistics Delhi and Mumbai campus, Apply Now!
GITAM School of International Business, Visakhapatnam
Admissions open for MBA programmes at GITAM. Application Deadline is February 20, 2018
Application Last Date for Online Submission - February 25, 2018
TAPMI, Manipal
Last date extended to 11 February, 2018. Apply Now.
BIMTECH, Greater Noida
Admissions open at BIMTECH, Greater Noida
Lal Bahadur Shastri Institute of Management
Admissions are Open at LBSIM, Delhi. Apply Now !
FORE School of Management
Apply for PGDM & PGDM-IB Programmes. Application Deadline is January 18, 2018.
MDI Murshidabad
Applications for PGPM 2018-20 at MDI Murshidabad are open
Last Date to Apply for MBA (Full Time) Programme at NIRMA is January 29, 2018
Institute of Public Enterprise, Hyderabad
Last Date to Apply for IPE, Hyderabad is 21st January, 2018
IMI New Delhi
Admissions Reopened for PGDM Last Date to Apply January 21, 2018
Application closes on February 12, 2018 for Executive PGDM at IMI
Institute of Rural Management Anand
IRMASAT will be conducted on February 4,2018, Apply Before January 20,2018
ICFAI Business School
Admissions Open at ICFAI Business School Apply Now!
K J Somaiya Institute of Management Studies & Research, Mumbai
Last date for Application is 31st Jan, 2018
Application for PGDM 2018-20 at SDMIMD is open till February 28, 2018

Admission Open Now

Following Colleges are accepting applications.


Admissions open for 2018-20

PGDM, PGDM (HRM), PGDM(B & FS), Executive PGDM

Apply Online
Get Connected with your Dream College  
Get Connected with your Dream College

Thank you