India will become global leader, says South Korea envoy


The Delhi declaration was adopted unanimously on Saturday the first day of G20 leaders summit with complete approval from China and Russia….reports Asian Lite News

India has shown the world that it is ready and will become a “global leader in the future”, said South Korean ambassador Chang Jae-bok while lauding New Delhi’s “tremendous” work in reaching a G20 declaration.

When asked about the fact that the New Delhi declaration does not mention direct criticism of Russia for its war against Ukraine, The envoy said the “consensus requires some kind of compromise otherwise” there won’t be any declaration.

“Russia and China are both members of the G20 summit. So consensus requires some kind of compromise. Otherwise, we would not have any declaration. I want to convey our appreciation to India. They have done a tremendous work in preparation of declaration,” the envoy said.

“India has shown to the world that India is ready. It will become global leader in future,” he added.

The Delhi declaration was adopted unanimously on Saturday the first day of G20 leaders summit with complete approval from China and Russia.

Praising India for being a fantastic host during the G20 presidency: the envoy said: “Big congratulations to India. You have been a fantastic host. We are truly grateful. We are happy that the G20 declaration was adopted to tackle challenges and various crises such as global competition, climate change, soaring prices, and poverty.”

The declaration did not mention Russia while calling for peace in Ukraine. Ukraine. the paragraph in last year’s G20 declaration adopted in Bali condemning Russian “aggression” in Ukraine.

Critics have claimed that G20 has been watering down its statement on the Ukraine conflict.

However, India has rejected these claims, saying many things have happened since the Bali declaration last year.

After the adoption of G20 declaration, External Affairs Minister Jaishankar said, “Regarding the change in language on the Russia-Ukraine conflict from the Bali Declaration – Bali is Bali, New Delhi is Delhi. Many things have happened since the Bali Declaration.”

During the press conference, India’s G20 Sherpa Amitabh Kant described the negotiations as “very very tough and ruthless”, however, there was 100 per cent consensus. (ANI)

South Korea to provide $4 bn loan to India

South Korea will provide USD 4 billion to India as a line of credit over the next three years for “high-value” projects, the country’s envoy Chang Jae-bok announced on Tuesday.

Addressing a press conference, the envoy told reporters that President Yoon Suk Yeol and Prime Minister Narendra Modi had a discussion on the matter during their bilateral meeting on the sidelines of the G20 summit.

Sharing details of the meeting, the envoy said the two leaders agreed to improve strategic communication and cooperation.

They also discussed expanding defence cooperation between the two countries, Chang said.

“On the economic front, they welcomed the Electronic Origin Data Exchange System coming up later this year. It is going to make bilateral trade and investment much smoother,” the South Korean ambassador to India added.

“The EECF or Economic Development Corporation Fund framework agreement is in the works. It could be used to build in India. It will also allow Korean companies to be involved in high-value projects here,” he said.

South Korea will provide the loan under the Economic Development Cooperation Fund (EDCF). South Korea announced this fund in 1987 to promote economic cooperation with developing countries.

Asked about details on EECF, the envoy expressed hope that India will be able to develop infrastructure with the help of EECF money.

“Our assistance involves loans and grants. India and (South) Korea have agreed that we will provide the initial amount of 4 billion US dollars from 2023 to 2025 to realise projects. Some projects have already started. These include the Intelligent Transport System on the Nagpur-Mumbai Super Communication Expressway Project. It will be a loan,” he said.

PM Modi and President Yoon also agreed to strengthen space development cooperation. The envoy informed that two leaders were scheduled to speak for 20 minutes but the discussion stretched to over 40 minutes.

“They had a quite extensive discussion. Our president also raised the issue of facilitating ease of doing business in India,” he said.

“President Yoon and Prime Minister Modi agreed to improve strategic communication and cooperation. Our countries are co-partners in the Indo-Pacific region,” he informed reporters.

President Yoon appreciated India’s G20 presidency and expressed his gratitude for the host country arranging a bilateral meeting. Both leaders agreed to strengthen cooperation in defence. K9 Vajra is an example of our defence partnership. It is designed by a Korean company.

South Korea is “totally committed” to expanding its defence cooperation with India, the envoy added.

“On the successful touchdown of the Chandrayan-3 lander on the moon, PM Modi and President Yoon agreed to strengthen space development cooperation,” he mentioned. (ANI)

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