April 12, 2018
The agreement was signed by Nitin Gadkari, Ministry of Shipping and his South Korean counterpart in Busan
Currently, Korean entities own more than 500 foreign going ships that are in urgent need trained seafarers
The deal will open up job opportunities for Indian seafarers on Korean ships; India has around 154,349 seafarers
Visit to strengthen cooperation in shipping, inland waterways, highways, river interlinking and infrastructure
Government of India has signed a memorandum of understanding with the Republic of Korea on mutual recognition of certification of competency of seafarers. The agreement was signed by Nitin Gadkari, Ministry of Shipping, Road Transport & Highways and Water Resources, River Development & Ganga Rejuvenation and his South Korean counterpart Kim Young-choon in Busan on April 10th. This paves the way for the two nations to recognize the certificates of maritime education and training, endorsements and medical fitness of seafarers issued by each other. This will open up employment opportunities for Indian seafarers on Korean ships. Currently, Korean entities own more than 500 foreign going ships that are in urgent need trained seafarers. Meanwhile, India has around 154,349 qualified seafarers.
Shri Nitin Gadkari was on a four day visit to the Republic of Korea since April 9th. During his stay, he met a number of government officials and industry leaders, besides attending the India – Korea Maritime Cooperation Forum (IKMCF). The visit was aimed at strengthening bilateral cooperation between the two countries in shipping, ports, inland waterways, highways, river interlinking and infrastructure sectors. The countries had signed the Comprehensive Economic Partnership Agreement (CEPA), a free trade agreement, in Seoul in 2009, which has since then boosted trade between the nations. Trade ties between the countries have steadily strengthened down the years and was recorded at US$16.8 billion in 2016-17. This is primarily owing to South Korea’s advanced technology and shipping industries.
The latest agreement allows for cooperation in development of ports, port-related industries and maritime relationship. Known for maritime technology prowess, South Korea had partnered with the Ministry of Shipping in the Maritime India Summit held in Mumbai during April 2016. During the visit, Mr Gadkari surveyed the operations of Samsung Heavy industries, Busan Port, National Transport Information Centre in Seoul, and addressed a business forum on the maritime sector and a seminar on India- Korea Infrastructure Corporation Forum. He also interacted with financial institutions and investors from South Korea. While India stands to gain leading expertice and technologies from South Korea, leading entities from South Korea such as Samsung, Hyundai have gained massive markets in India.