Korean firms keen to invest in India, says Ambassador Joon-Gyu Lee

NEW DELHI: Korean firms are now more keen to invest in India, upbeat about the country's investment climate after the new government led by Narendra Modi unveiled its economic vision, the country's Ambassador today said.

"I see a renewed interest amongst Korean companies in coming as the economic vision unveiled by Prime Minister Modi is acting as a big catalyst," Korean Ambassador to India Joon-Gyu Lee said at a Ficci conference here.

Besides, Lee said, Korean companies were committed to undertaking corporate social responsibility (CSR) activities in the right earnest and emphasised that CSR presents a huge opportunity for them to earn corporate goodwill and win the hearts and minds of the Indian people.

The Korean Ambassador said CSR rests on three pillars - the 3Ps, representing People, Planet and Profit. People, he said, were the ultimate stakeholders of any enterprise and therefore industry must pursue socially responsible business strategies for the benefit of all.

The corporate sector must factor in the impact of the business activities and invest in environment-friendly technologies for the sake of Planet Earth. Corporates, Lee added, must go beyond tax planning and profit-making by adhering to the 3Ps for reaping long term dividends.

"Doing good to society is doing good to industry," Lee said, adding that the Korean Embassy is holding regular meetings with Korean companies in India to review the individual CSR practices being followed by them.