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Korea, India hold meeting to expand economic cooperation

South Korea's finance ministry said Friday that it held a meeting with its Indian counterpart and discussed ways to bolster bilateral economic and financial cooperation.

At the working-level talks in New Delhi on Thursday, South Korea and India agreed to work launching the $10 billion Seoul-New Delhi financial program in the near future, according to the Ministry of Strategy and Finance.

(123RF)
(123RF)

In a summit in 2015, heads of the two countries reached an agreement on the program, aimed at helping develop India's infrastructure.

The finance ministry said the two authorities will sign a deal to support the $10 billion package through the state-run Economic Development Cooperation Fund (EDCF) before June.

They also agreed to hold a finance ministers' meeting in Seoul later this year, with a detailed schedule and agenda to be discussed later, added the ministry.

India is South Korea's eighth-largest trading partner, with its exports to India hitting $11.6 billion in 2016. (Yonhap)

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