Korea Investment Corp. (KIC) opened an office in Mumbai, India, on Tuesday, which is the sovereign wealth fund s first office established in an emerging market. It is the KIC s fifth overseas office, following ones in New York, London, Singapore and San Francisco.
The synergistic cooperation between South Korea and India, deeply rooted in shared values, stands as indispensable in nurturing economic growth and security as well as regional security, amid compounding crises worldwide, South Korean Ambassador to India Chang Jae-bok said. "The significance of India cannot be emphasized enough, given its status as the world's largest manufacturing hub and its potential as .
Choi Hee-nam has taken on his new role as the CEO of Chong Kun Dang Holdings, as his appointment was confirmed at the shareholders meeting and the board of directors of the pharmaceutical company at the end of last month.
Korean institutional investors are pumping money into the Indian market to avail opportunities from the fastest-growing major economy’s robust domestic demand and infrastructure projects. With estimates suggesting the economy could expand by 7 to 8 percent this year and the Indian government's policies designed to revive the manufacturing industry, including the "Make In India" program, the count.
India s robust economy, favorable investment climate, and rapid urbanization make it a prime investment destination in the Asia-Pacific region. Global funds, including Mubadla, Mitsubishi Fudson, and PAG Credit & Markets, are increasing allocations or forming partnerships. Colliers predicts a dynamic 2024, emphasizing India s GDP growth, attractive pricing, and higher yields.