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S. Korea's Investment in India Tops $ 1 Billion for First Time

Written: 2019-03-24 14:43:24Updated: 2019-03-24 14:48:37

S. Korea's Investment in India Tops $ 1 Billion for First Time

South Korea's investment in India topped one billion dollars for the first time last year.

According to the India office of the Korea Trade-Investment Promotion Agency, or KOTRA on Sunday, South Korea's investment in India reached one-point-05 billion U.S. dollars last year.

It marked a more than two-fold increase from the previous year when the figure posted 516 million dollars.

The sharp increase is attributed to major investments by Samsung Electronics and Kia Motors. Samsung expanded its mobile phone plant in northern India to produce 120 million units a year, while Kia is building a plant with a 300-thousand-unit capacity in Andhra Pradesh in southern India.

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