Karnataka Minister MB Patil Strengthens Ties with South Korea for Economic Growth

The Minister for Large and Medium Industries and Infrastructure Development of Karnataka, MB Patil, led a series of productive discussions with key South Korean officials. These meetings aimed to boost economic relations between Karnataka and South Korea.

Key Meetings and Discussions

MB Patil met with Vice Governor Hyun Gon Kim of Gyeonggi Province and Mr. Lee Hae Woo, Deputy Mayor for Economic Policy, Seoul Metropolitan Government. They discussed enhancing collaboration in sectors such as electronics, startups, R&D, biotech, and medtech. The talks also explored potential partnerships for the upcoming KHIR city near Bengaluru.

Invitations and Future Events

Vice Governor Kim invited Karnataka to participate in the Gyeonggi Startup Summit in September 2024 and the Korean Industry Expo (KoINDEX) in New Delhi in November 2024. Additionally, the Karnataka government invited Korean startups to join the Global Startup Challenge – VentuRISE, leading up to the Global Investors Meet (GIM) 2025.

Student Exchange Programs and Banking Expansion

Discussions were also held on introducing student exchange programs between Seoul and Karnataka. MB Patil met with senior executives from KEB Hana Bank to discuss the bank’s expansion plans, including opening a branch in Bangalore. The Karnataka government assured support for the bank’s application to the Reserve Bank of India.

Conclusion

These meetings highlight Karnataka’s commitment to fostering international partnerships and driving economic growth, solidifying its position as a premier investment destination.