India and South Korea have launched a platform to promote and facilitate investments from the east Asian country. The platform ‘Korea Plus‘ was launched by Commerce and Industry Minister Nirmala Sitharaman and her South Korean counterpart Joo Hyunghwan.

Korea Plus comprises a representative each from the South Korean Ministry of Industry, Trade and Energy and Korea Trade Investment and Promotion Agency (KOTRA). Besides, it includes three officials from Invest India. The mandate of Korea Plus covers the entire investment spectrum including supporting Korean enterprises entering the Indian market for the first time, looking into issues faced by Korean companies doing business in India and policy advocacy to the Indian Government on their behalf.

An MoU for establishing Korea Plus was signed between the two sides in January. The MoU came as an outcome of the visit of Indian Prime Minister Narendra Modi to South Korea in May 2015.

Did You Know?

• The name “Korea” comes from Goryeo, which was the name given to the dynasty established by General Wang Geon in AD 918. Goryeo means “high and clear.”
• When a Korean’s name is written in red ink, this indicates that that person is about to die or is already dead.
• On Jeju, South Korea’s largest island, giant stone statutes known as dol hareubang (old grandfather) can be found along the beaches. Newlywed women believe that if they touch the statues’ long, broad, phallic-looking noses, they will be blessed with fertility.