KOREA BUSINESS GROUP
India and Korea are no strangers to doing business together. To help facilitate the same and to ensure that our Korean counterparts have a smooth business journey in India, our specialized Korean Desk comes into play to bridge the cultural gap between the two nations.
India has witnessed a meteoric rise in terms of foreign investment, with special interest from Korea in sectors such as automobiles, metallurgy, electronics, healthcare and telecom. With a strong bilateral background between the two countries, added to India’s growing economy and its modern, business-friendly approach makes it a viable destination for Korean companies to set up here.
164 companies in the National Capital Region (NCR) that comprises of Delhi, Haryana, and Uttar Pradesh
Major Industries: Electronics, Construction, Automobile, and Trade
172 companies in Tamil Nadu
Major Industries: Electronics, Construction, Automobile,and Trade
79 companies in Maharashtra
Major Industries: Manufacturing, Wholesale & Retail, Transportation, and Construction
Ghilot in Rajasthan
Upcoming dedicated industrial zone for Korean companies
India Entry Strategy
Korean companies can enter via Joint Ventures (JVs) with Indian companies, in order to understand and penetrate the local market better
Wholly Owned Subsidiaries (WOS) are more suitable for long term operations, wherein companies establish setups for production and sale
For short-term projects, such as infrastructure construction projects, companies enter India by setting up Project, Branch, or Liaison Offices
Factors Affecting India Entry
While evaluating the Indian market for business expansion and to better prepare for undertaking operations in the Indian market, below are a few important aspects that should be considered
Indian tax scenario and compliance
Although evolving to become a more systematic process, the Indian tax system does pose significant considerations for companies doing business in India
In an effort to facilitate ease of doing business in India, the Government is periodically introduces reforms to reduce the challenges faced by companies
With the world’s largest working population, India’s has an evolved consumer-base that has access to more options and expects high quality products and services
Through the various states’industrial policies, incentives and benefits are offered to foreign companies which are investing or setting up operational units in India
What Can Coinmen Do To Help
As a multi-disciplinary firm, Coinmen helps companies by helping them incorporate, operate and expand in the Indian landscape. Via our specialties in financial and business advisory, we undertake a holistic approach to bridge cultural and business gaps for continual growth. Our range of services is highlighted below.
Setting up a Business
Audit and Assurance
Director -Korea Business Group
Leveraging an industry experience of over 20 years in sectors ranging from electronic components, semiconductors, infrastructure, etc., Daniel Lee brings in his vast understanding of the Korean culture along with a strong business acumen to help Korean companies establish their presence in India.
Serving as the Director of the Korean Business Group at Coinmen, Daniel’s expertise in a variety of industries, especially in understanding the practical requirements of Korean businesses looking to expand in new geographical markets allows us to bridge the business as well as cultural gap between the two counties and find identify points of commonality for their fruitful business presence.
Yoon Gi-joong has an experience of over 20 years in renowned Korean construction and engineering companies, and has been the CEO of KOSDAQ registered firms.
With an experience in technical planning, consulting, and sales in the IT sector, Nam Chang-ho has led businesses, from start ups to SMEs, in Korea and with global partners.
With an expereince ranging from a telecom company to being the CEO of a investment fund, Seok Moon-chil has led Korean companies pursue overseas including India.
Address : Room 528, 28, Saimdang-ro, Seocho-gu, Seoul, Korea