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we begin in new delhi... where president park geun-hye held summit talks with her indian
counterpart manmohan singh on thursday. the two leaders agreed to upgrade their free
trade pact as soon as possible... and take necessary measures to nurture a favorable
business environment for investors in both countries.
our eoh jin-joo ..., who is on location with the president... sent us this report. president
park's visit to india aims at laying the path for korean firms to more easily enter the
world's second-largest market by population .
one of the most notable accomplishments of the summit talks between president park and
indian prime minister manmohan singh on thursday ... was the two leaders deciding to quickly
upgrade the korea-india comprehensive economic partnership agreement or cepa so that it covers
not only goods but also investments and service s.
we promised to do our best towards conclud ing the upgraing process of the korea-india
cepa as soon as possible.
the two countries will be holding minister ial level talks on the matter in march.
both leaders also agreed to revise the tax treaty between the two nations... to reduce
the tax burden on korean and indian companies operating in each other's countries... and
to prevent double taxation.
we believe that will lay an important foundation to enhancing the two countries' business environment
and expanding investment.
president park has also sought an expansion in financial support for korean firms willing
to take part in infrastructure projects in india... part of its five-year development
plan... with mous having been signed between korea's exim bank and indian financial institution
s. posco's stalled project to build a steel mill
in the indian state of odisha looks like it's finally back on track... with president park
securing promises from the indian government to resolve the obstacles that have been blocking
progress for roughly nine years now. the korean steel giant was granted an environmental
clearance for the 27-hundred acres of land required for the project... and also secured
a promise from the odisha state government to grant posco a prospecting license for an
iron ore mine some 3-hundred kilometers from the steel mill.
on friday president park will attend events focused on cooperation in the sector of the
creative economy and meet with indian business leaders to call for further investment in
korea. eoh jin-joo arirang news new delhi.