By Sourabh ModgilROLL NO.- 44

ABOUT KOREA•LANGUAGE : KOREAN •AREA : 219;140 KM sq.

•POPULATION : 73,00,00,000

•CURRENCY: won  ₩

[ 1 KOREAN WON = 0.05 INDIAN RUPPEE ]• CAPITAL OF N.KOREA – PYONGYANG•CAPITAL OF SOUTH KOREA - SEOUL

KOREA is an east Asia territory that is divided into two separate sovereign states NORTH and SOUTH KOREA.

KOREA was under Japan rule from 1910 to 1945.

After 35 years of rule , during the world war 2  The United States and the Soviet Union agreed to temporarily occupy the country as a trusteeship with the zone of control demarcated along the 38th parallel.

Though elections were scheduled, the Soviet Union refused to cooperate with United Nations plans to hold general and free elections in the two Koreas, and as a result, a Communist state was permanently established under Soviet auspices in the north and a pro-Western state was set up in the south .

CUSTOMSJERYE – Ancestral Memorial RiteSOLLAL – Lunar New Years DayCHUSEOK- Korean Thanksgiving Day

ONDOLTraditional korean rooms Rooms are not labeled or reserved for specific pourpose.

ATTRACTIONSPALACE OF THE JOSEON DYNASTY -Gyeongokgung Palace

-Deoksugang Palace

-Changdeokgung palace

-ITAEWON -popular district for Shopping and entertainment .

SOUTH KOREA FLAG

NORTH KOREA FLAG

ABOUT SOUTH KOREACurrent president of south Korea is lee myung –bak

South Korea has a market economy which ranks 15th in the world by nominal GDP and 12th by purchasing poweR parity (PPP), identifying it as one of the G-20 major economies.

Has GDP of - Nominal: $1.268 trillion.. It is a high-income developed country, with

a developed market, and is a member of OECD.[Organization for Economic Co-operation and Development]

South Korea had one of the world's fastest growing economies from the early 1960s to the late 1990s .

 financial organizations like the World Bank describe Korea as one of the fastest-growing major economies of the next generation.

ABOUT NORTH KOREANorth Korea is a self-described Juche (self-reliant) state, described by some observers as a de facto absolute monarchy or "hereditary dictatorship" with a pronounced cult of personality organized around Kim Il-sung (the founder of North Korea and the country's only president).KIM JONG UN.

North Korea's economy is a centrally planned system.The role of market allocation is sharply limited .GDP - $40 billion With GDP  per capita of less than $2,000, North Korea remains as one of the world's poorest and least developed countries, in sharp contrast to its neighbor South Korea, which has one of the largest economies in Asia.In economic sector there main work is of agriculture , mining ,military products and fisheries .It exports mainly goes to China 42% , south Korea 38% and India 5%.

INDIA AND SOUTH KOREA BILATERAL TRADEIndia, South Korea to double bilateral trade to $40 bn by 2015.The CEPA binds South Korea to phase out or reduce tariffs on 90percent of Indian goods over 10 years, while India is to eliminate tariffs on 85 percent of South Korean exports within the same period, which is longer than what is written in other FTAs South Korea settled with.

 Posco's proposed $12-bn investment in a steel project in Orissa, major industrial houses have committed an investment to the tune of $2.8 bn. Tata Motor's purchase of Daewoo Commercial Vehicles at the cost of $102 million highlights the India's investments in Korea.In June 2012, India, a major importer of arms and military hardware purchased eight warships from South Korea.INDIA export of commercial services have been increasing by more than 20% annually in last 5 years.According to electronic and computer software export council ,software exports from India to south Korea in 2001 – 2002 were $ 27.53 million compared to 2000 – 2001 $8.8 million . after the implementation of the Free Trade Agreement (FTA),  Trade between India and South Korea grew by 10 per cent to $10.7 bn in 2010 .

The CEPA was signed on August 7, 2009, by the governments of India and South Korea, aimed at boosting trade in industrial sectors, as well as engaging in manpower exchange. India became the 9th biggest source of imports for ROK in 2011.Korea accounts for about 2.64% of total FDI inflows, amounting to US$ 2.601 billion. Hyundai Heavy Industries have won two mega projects including one pipeline project worth US$ 600 million.CEPA came into force on 1st January, 2010. Rapidly expanding trade and investment flows lie at the core of the bilateral cooperation. Bilateral trade in 2011 crossed $ 20.5 billion registering a 70% growth over a two year period. A revised trade target of $ 40 billion by 2015 was established by PM. Singh and President Lee on 25 March 2012. Major Korean conglomerates (Chaebols) such as Samsung, Hyundai Motors and LG have made significant investments into India, estimated at $2.6 billion, till September 2012. Indian investments in ROK have already exceeded $ 1 billion.

Source: Korea International Trade Association

YearExports to

IndiaImports from

India Total Trade

2001 1.41 1.11 2.52

2002 1.44 1.25 2.69

2003 2.85 1.23 4.08

2004 3.63 1.85 5.48

2005 4.59 2.11 6.70

2006 5.53 3.64 9.17

2007 6.60 4.62 11.22

2008 8.97 6.58 15.55

2009 8.01 4.14 12.15

2010 11.43 5.67 17.10

2011 12.68 7.89 20.57

2012 (up to Nov) 11.06 6.38 17.39

TIE-UPS BETWEEN INDIA AND S.KOREAIndia, S Korea to step up defence, n-projects ties.

India, Korea Tie-Up For Nanotechnology Product Development .Uno Minda, Korean firm tie up to make automotive lamps.

Power Exchange India ties up with Korea Power.Sahara Power, Korea firm tie up for 6,000 MW plants.IOC signed MoU with Korea Gas Corporation to Jointly explore and produce Gas.An Indian Cultural Centre (ICC) was established in RoK in April 2011.

VISITS Prime Minister Dr. Manmohan Singh paid an official visit to Seoul from 24-27 March 2012, both for bilateral and Nuclear Security Summits.President Lee paid a landmark visit to India, as Chief Guest at India's Republic Day celebrations on 26 January 2010, when bilateral ties were raised to the level of Strategic Partnership.Defence Minister Shri A.K. Anthony visited RoK in September 2010.A fleet of four Indian naval vessels are currently on a goodwill visit to the port of Busan.Minister of Knowledge Economy Mr. Hong Sukwoo VISITED India on 26 jan ,2013.

Minister of Culture, Sports & Tourism Mr. Choe Kwang-sik visited India on 13th dec. 2012 .

GAMSAHABNIDA