Buggana's visit to South Korea: Establishment of industrial cluster, language lab, employment to youth on cards

AMARAVATI: Minister for Finance, Planning, Legislative Affairs and Skill Development Buggana Rajendranath during his visit to South Korea sought that country’s support in creating jobs for the teaming youth of the State of Andhra Pradesh.

On Monday, his delegation met the Ambassador of India to the Republic of Korea Amit Kumar, and his team to discuss possible economic development prospects between Republic of Korea and Andhra Pradesh. Ideas related to investment opportunities were exchanged.

Rajendranath conveyed Andhra Pradesh Government’s readiness to set up industrial clusters in the State to tie up with Korean industries that were looking for business expansion.

The delegation also explained to the Ambassador that special emphasis would be given to the promotion of processing of seafood as Andhra Pradesh was endowed with the second longest coastline in India. The import duty structure was also discussed at length and the delegation requested the Indian Ambassador for his support.

At the meeting with the Indian Chamber of Commerce represented by Pankaj Srivastava, global CFO, Coupang, the Finance Minister discussed the avenues for increasing the trade and enhancing the economic activities between the two counterparts. Both sides agreed to continue a regular exchange of information.

The Andhra Pradesh delegation later met with the Korea Trade Investment Promotion Agency (KOTRA) and requested the organisation to encourage Korean firms to invest in the State. Details on AP’s investment-friendly policies were explained to the team of KOTRA.

Speaking with Dr Hyun Hee Kim, Vice President of Sahmyook University, the Finance Minister proposed a Korean language laboratory to be set up in the State with the help of the university.” This will enable the youth of Andhra Pradesh to seek opportunities for studying and working abroad, especially in the Republic of Korea,” Buggana Rajendranath said.

Sahmyook University agreed to extend its support to AP in the field of vocational education and in setting up the language lab.