South Korea-India relations

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The South Korea-India relations has been relatively limited, although the bilateral relations is over three decades old. Since the formal establishment of the diplomatic ties between 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. The last two presidential visits from South Korea to India were in 1996 and 2006,^[1] and the embassy works between the two countries are seen as needing improvements.^[2]. Recently, there have been acknowledgments in the Korean public and political spheres that expanding relations with India should be a major economical and political priority for South Korea. Much of the economic investments of South Korea have been drained into China;^[3] however, South Korea is the fifth largest source of investment in India.^[4] To the Times of India, President Roh voiced his opinion that cooperation between India's software and Korea's IT industries would bring very efficient and successful outcomes.^[1] The two countries agreed to shift their focus to the revision of the visa policies between the two countries, expansion of trade, and establishment of free trade agreement to encourage further investment between the two countries. Korean companies such as LG and Samsung have established manufacturing and service facilities in India, and several Korean construction companies won grants for a portion of the many infrastructural building plans in India, such as the "National Highway Development Project".^[4] Tata Motor's purchase of Daewoo Commercial Vehicles at the cost of $102 million highlights the India's investments in Korea, which consist mostly of subcontracting.^[4]

This cordial relationship between the two countries extends back to 48AD, when Queen Suro, or Princessd Heo, travelled from the kingdom of Ayuta to Korea^[5]. According to the Samguk Yusa, the princess had a dream about a king who could not find a queen, and asked her parents for permission to set out and seek the man.^[6] Upon approval, she set out on a boat, carrying gold, silver, a tea plant, and a stone which calmed the waters.^[5] Archeologists discovered a stone with two fish kissing each other, a symbol of the Gaya kingdom that is unique to the Mishra royal family in Ayodhya, India. This royal link provides further evidence that there was an active commercial engagements between India and Korea since the queen's arrival to Korea.^[5]