Korean Trade team on Shipping & Marine to visit India

After Hyundai, Samsung, LG, STX, etc. having gained a strong foothold in the country, other Korean companies too are set to foray into India this time into shipping and the marine sector. A high level trade delegation representing nine prominent players in the field of shipping & marine, construction and plant equipment will visit Mumbai on August 28, 2008 and hold a One-to-One Trade Meeting to explore the possibilities of a “Business Tie-up” with Indian companies.

“The venue for the meeting will be the Gateway Room, Taj Mahal Hotel,” informed Mr. Song-Kon Han, Director General of KOTRA, Korea Trade-Investment Promotion Agency while talking to SHIPPING TODAY on this matter. “The delegation will look at garnering partnership for both marketing and / or manufacturing their products in India and accordingly look for Indian counterparts who could serve as buyers, importers, agents, end-users, stockists, dealers, distributors or traders.

“Korea has the capacity to provide Indian companies all the necessary products in the field of shipping and marine and also to help build infrastructure in India. This is an initial meeting. We see India as a fast developing economy and this is a crucial time to start dealing with India in this field. Yes, initially we will be looking at the supply of products and once the market improves we will go forward and consider manufacturing products like other Korean companies are doing in India viz. manufacture for Indian consumption and also for export.”

According to KOTRA all the companies’ products are certified by various classification societies. They are in good demand in India and in other ship building countries and the brands are well established worldwide. All companies have an excellent track record for providing after-sales services and the necessary training. If and when the need arises, training centres would be established in India in due course.

The nine Korean companies which will be represented on the trade team deal in the following items:-

Hydraulic cylinder, hydraulic pumps, handy pumps, cutter, bender;
Hydraulic Valve and Manifold Block Assembly;
Steam Trap, Safety & Relief Valve, Pressure reducing valve, Strainer and other related products;
Ship Block, Win Bridge, Radar Mast;
Tug Boat and Barges;
Heavy Load Transfer & Ship lift system for Shipyard Hydraulic systems;
Cable Gland and Accessories;
Pipe Coupling & Clamps;
Butt-welding Fittings (Elbow, Reducer, Tea) Carbon Steel, Stainless, etc.

Informs Mr. Bhavin G. Kadakia, Senior Manager – Trade & Investment of KOTRA, Mumbai this will be an excellent opportunity for Indian companies in the shipping and marine sector to sources their products and to interact directly with the top management of the concerned Korean companies for establishing business relations.

Those interested in obtaining more details can get in touch with KOTRA, Mumbai on Tel: 6615 7505 or 6631 8000.

KOTRA serves as a bridge between Korean and foreign business persons who wish to forge trade or investment relations. Throughout the business relations with Korea interested KOTRA will help entrepreneurs to capitalise on the outstanding business opportunities for which Korea has built up a solid reputation.

Mr. Han informed that KOTRA will be taking a prominent part in the forthcoming expo: Port & Ship International India 2008 to be held in October this year at the Bombay Exhibition Grounds at Jogeshwari, Mumbai. At least 11 leading companies will be participating in the exhibition including those in the ship building sector.

According to Mr Han, STX recently prepared a feasibility report for setting up a shipyard near Chennai. However, matters are still being finalised and a positive decision on this project is awaited.