Govt approves two pacts with South Korea in power, shipping sectors

New Delhi: The government today approved signing of two initial agreements with South Korea in the fields of power generation, maritime transport and logistics.[caption id=“attachment_851955” align=“alignleft” width=“380”]  Representational image. PTI[/caption] “The Union cabinet today gave its approval for signing of the Memorandum of Understanding (MoU) between India and the Republic of Korea on cooperation in the field of electric power development and new energy industries,” an official statement said. The MoU will provide an enabling framework for establishing contact between governmental entities and public authorities of both countries in the field of electric power development and new energy industries, the statement said. The focus of attention will be bilateral cooperation in the areas of electric power development, renewable energy, smart grids and power Information and Technology, transmission and distribution of electric power, energy efficiency and energy storage systems, etc. The cabinet also approved an MoU with South Korea for cooperation in maritime logistics and transportation. The MoU envisages cooperation between the two nations in maritime transport and logistics through the sharing of technologies, information and experiences, it said. Both Korea and India will also increase cooperation on training of seafarers and port operations, development of relationship in international maritime transport on the principle of equality and mutual benefits, a release said. It also envisages joint businesses, exchange of experts in maritime transport and logistics, conducting research on maritime developments and other forms of cooperation that may be jointly decided upon by the two sides, it said. PTI