Mr. Anand Mahindra, Vice Chairman and Managing Director, Mahindra Group appointed Honorary Ambassador of Foreign Investment Promotion for Korea by Mr. Byeong-Cheol Lee, Director General for Cross-border Investment, Ministry of Knowledge Economy
November 24, 2011: Mr. Anand Mahindra, Vice Chairman and Managing Director, Mahindra Group, was appointed Honorary Ambassador of Foreign Investment Promotion for Korea at a special ceremony which took place during the Korea Investment Road Show held in Mumbai.
He was conferred with this title in the presence of several dignitaries, including senior ministers and officials of the South Korean government.
As Honorary Ambassador, Mr. Mahindra will promote economic ties between India and Korea and advise corporate India on potential investment opportunities in South Korea.
“I am deeply honoured to be appointed the Honorary Ambassador of Foreign Investment Promotion for Korea. Both countries contribute significantly to the global economy and have a strong bilateral trade relationship going back several decades. I hope to utilise this platform to foster closer economic ties between our two nations and promote investment in South Korea,” said Mr. Anand Mahindra, Vice Chairman and Managing Director, Mahindra Group.
“With his sound knowledge of the global economy and as one of corporate India’s most prominent voices, Mr. Mahindra is the ideal choice for this role. Despite the increasing trade volume between Korea and India, the mutual investment activities are hardly sufficient enough. As Korea-India cooperation has evolved into a robust and strategic partnership, we need to create a platform for expansion of more investments in order to further strengthen such ties,” said Mr. Byeong-Cheol Lee, Director General for Cross-border Investment, Ministry of Knowledge Economy.
The Korea Investment Road Show 2011 focused on FDI promotion by the government of the Republic of Korea, highlighting emerging industries, industrial growth and promotion through the Free Economic Zone. The show aimed to promote greater investment between both countries.
Indo-Korean trade relations
India and South Korea have signed the CEPA (Comprehensive Economic Partnership Agreement) which was implemented from 1st January, 2010. After the implementation of the free trade pact, the two-way trade between the countries has grown by about 45 per cent during January-November 2010 to $15.6 billion. Both parties have since announced measures to increase trade between the two countries to $30 billion by 2014.
About The Mahindra Group
The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, vacation ownership, rural and semi-urban financial services, etc. Mahindra has a significant and growing presence amongst others, in the automotive industry, agribusiness, aerospace, automotive components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel and two wheelers.
A US $ 14.4 billion multinational group based in Mumbai, India, Mahindra employs more than 1,37,000 people in over 100 countries. In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. For four years in a row, Mahindra has featured in the Forbes Asia’s Fab 50 List of the 50 best publicly traded companies in the Asia-Pacific regions. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of India’s Top 500 Companies.
In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow. Its flagship company Mahindra & Mahindra Limited is the only Indian automobile manufacturer to feature in the top 10 list of the Carbon Disclosure Leadership Index in India - 2010, created by the Carbon Disclosure (CDP). In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.
For further information, please visit www.mahindra.com
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KOTRA (Korea Trade-Investment Promotion Agency), Mumbai Office is a Trade Office of the Embassy of the Republic of Korea under the Korean Ministry of Knowledge Economy. It is a non-profit making Trade & Investment Promotion organization of the Korean government and its role is to facilitate trade and investment between India and Korea.
For further information please contact:
Ms. Roma Balwani
Senior Vice President & Group Head, Corporate Communications
Mahindra & Mahindra Ltd.
Phone: (+91-22) 2490 1441
Fax: (+91-22) 2490 0830