India – South Korea relations

India – South Korea Relations

Bilateral Relations
Bilateral Relations Less

India – South Korea relations

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India–South Korea relations has been relatively limited, although much progress arose during three decades. Since the formal establishment of the diplomatic ties between the two countries in 1973, several trade agreements have been reached: Agreement on Trade Promotion and Economic and Technological Cooperation in 1974; Agreement on Cooperation in Science & Technology in 1976; Convention on Double Taxation Avoidance in 1985; and Bilateral Investment Promotion/ Protection Agreement in 1996. Trade between the two nations has increased exponentially, exemplified by the $530 million during the fiscal year of 1992-1993, and the $10 billion during 2006-2007. During the 1997 Asian financial crisis, South Korean businesses sought to increase access to the global markets, and began trade investments with India. The last two presidential visits from South Korea to India were in 1996 and 2006, however, South Korea...
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