Korean Government through KOICA usher in the Bilateral Exchange of Notes with the Government of India

New Delhi, 20 January 2025 – The Korean International Cooperation Agency (KOICA) signed its first bilateral Exchange of Notes between the Embassy of Republic of Korea and the Ministry of Finance, Department of Economic Affairs (DEA), Government of India. This agreement reflects a shared commitment to fostering mutual growth and advancing sustainable development between Korea and India.

The Exchange of Notes was formally signed by Ambassador Lee Seong-ho, Korean Ambassador to India and Ms. Manisha Sinha, Additional Secretary, Ministry of Finance. The signing ceremony was attended by dignitaries, including Mr. Sang Woo Lim, Minister, Ms. Hyesoo Jee, Second Secretary of the Korean Embassy and Mr. Woochan Chang, Country Director of KOICA and Ms. Geetu Joshi, Economic Advisor; Mr. Navjot Singh, Deputy Secretary; and Ms. Anisha Xaxa, Undersecretary from Ministry of Finance, Government of India, Ms. Anu Jain, Joint Director, Ministry of Education and Dr Dinesh Saklani Director, NCERT.

Ambassador Lee Seong-ho emphasized KOICA’s dedication to empowering India’s youth through cutting-edge skill development initiatives. “KOICA has introduced several programs to educate and upskill the youth, preparing them to meet the evolving demands of Industry 4.0,” he remarked.

One such flagship initiative is the TVET Mechatronics Project, developed in collaboration with the National Council of Educational Research and Training (NCERT). This program equips students with advanced technical skills, aligning with the requirements of a dynamic and rapidly changing job market.

Ambassador Lee further highlighted KOICA’s strategic focus on integrating technical training with education and healthcare. “By leveraging future-ready technology skills, we aim to enable the youth to thrive in a competitive global environment. Collaborative efforts with academic institutions are critical to building these competencies,” he said.

He also underscored the transformative potential of the Exchange of Notes. “This marks the beginning of a deeper collaboration between our two nations. As the project progresses, we look forward to the active engagement of more stakeholders in this journey of shared development.”

This agreement signals a growing partnership between India and Korea, reinforcing their dedication to sustainable development, skill enhancement, and technological innovation.