South Korea’s Ministry of SMEs and Startups has cut the ribbon on a technology exchange center in New Delhi, India, in a bid to boost trade between the two nations, according to a report published by Yonhap News.
The center’s inauguration was prompted by a bilateral agreement to test whether tech exchanges could encourage cooperation between South Korea’s and India’s start-ups. The New Delhi project will focus on South Korea’s key areas of expertise and technological advances, namely cosmetics, mobile services and medicine.
“We plan to offer active support for our SME’s efforts to diversify their export markets and make inroads overseas through technological cooperation with India,” said Seoul’s SMEs Minister Hong Jong-haak at the opening ceremony per Yonhap News. “I hope that technical exchanges among the SMEs of the two countries will help advance India’s manufacturing industry to a higher level, create more jobs and help the local economy.”