Gandhinagar, August 04: Gujarat Government todaysigned a memorandum of association (MoA) with Korea LandCorporation (KLC), an agency of South Korea Government, to setup an industrial park and technology zone in South Gujarat.
The proposed park will be set up in Gujarat VittalInnovation City (GVIC) Ltd, a multi-product SEZ being jointlydeveloped by Gujarat Industrial Development Corporation (GIDC)and GVIC.
The MoA was signed by Chief Minister Narendra Modi andDo Youp Kwon, Vice-Minister of Land, Transport and MaritimeAffairs of Korea.
According to Kwon, the proposed industrial complexwill be set up in 800 acres in South Gujarat and around 60Korean medium-sized companies have shown interest to set uptheir units there.
Companies engaged in manufacturing, IT and automobileswill set up their units or R&D activities in the industrialcomplex, he said.
Kwon said currently there are around 300 Koreancompanies doing business in India and after ComprehensiveEconomic Partnership Agreement (CEPA) is signed between thetwo countries, business and trade will go up significantly.
“Trade and business between India and Korea will seenew heights in near future,” he said at a press conferencehere.
—Agencies