Spark Minda sees huge prospects for business and economic tie-ups with South Korea

In view of India’s growing ties and increased cultural, business bonding with South Korea, global automotive component manufacturer, SPARK MINDA, led by chairman & group CEO, Ashok Minda supported the programme organised by India-Republic of Korea friendship society (IRKF) to welcome the new Ambassador of South Korea to India – SHIN Bong-kil. The event organised at India International centre, New Delhi saw participation by senior bureaucrats, corporates, government officers and members of IRKFS. The dignitaries include Skand Tayal, Ex Indian Ambassador to Korea; Shashank, Ex Foreign Secretary, Government of India; Ashok Minda, Group CEO and NK Taneja, Group Chief Marketing Officer, Spark Minda, Ashok Minda Group and Mr. A P Gandhi, Director General of IRKFS.
Welcoming H.E SHIN Bong-kil, Ambassador of Korea to India, Minda said, “India’s growing ties and increased cultural, business bonding with South Korea has immensely benefitted and greatly impacted the lives of my countrymen. I believe and am of firm conviction that the two most promising economies of the world – India and South Korea will continue to further deepen collaboration, which will play a significant role in promoting a mutually beneficial relationship in the national and economic interest of all.”
The automotive industry in South Korea is the sixth-largest in the world measured by automobile unit production and the fifth-largest by automobile export volume. South Korea is today among the most advanced automobile-producing countries in the world. As a leading automotive player, nationally and internationally, the South Korean automotive market is a significant market for major global players like Spark Minda. Spark Minda sees big prospects that lies ahead in South Korea and is working as per its strategy in focus area of growth. It is continuously evaluating the new opportunities through organic & inorganic growth to compete from global suppliers besides expanding its footprints globally.
Adds Taneja, “Spark Minda is keen to align and serve South Korean car makers in India and also aggressively pursuing opportunities to alliance/partner for India with South Korean partners. As per government identified sectors for bilateral agreement, our group is also working on latest technology products for clean technology which includes components for electric vehicle segment and other technology such as connected mobility solutions, telematics, ITS & IoT.”