South Korea's president begins a two-day visit to India Monday that analysts say could boost investment and trade links between two of Asia's biggest and fast-growing economies.
The visit of Roh Moo-Hyun is the first by a South Korean president in eight years.
South Korea and India have been tight-lipped about the visit during which Roh will meet top Indian leaders, except to say it is aimed at improving ties.
Indian analysts say the trip could lead to greater South Korean investment as well as enhanced trading relations as Seoul is keen to increase its commercial presence in the country of more than one billion people.
"The Korean investment pattern in India is expanding and there's significant diversification in areas like software development and biotechnology so many things can happen following such a high-level visit," said R.R. Krishnan who teaches Korean studies at New Delhi's Jawaharlal Nehru University.
Spurred by New Delhi's commitment to pursue economic reforms and China's "great interest" in India's fast-expanding market, "South Korea is determined not to be marginalised," said Amit S Ray, a professor of economics at the same university.
"India and Korea are rising stars in the world economy with both topping growth performance and macro-stability charts," he said. "This has grabbed world attention and so top-level contacts are taken very seriously."
Economists project India's growth at 5.5 percent-6.5 percent for the fiscal year ending March 2005. South Korean growth is pegged at around 5.0 percent.
Some 170 Korean firms, including auto-maker Hyundai and electronics goods giant Samsung, are doing business in India with investments totalling 2.6 billion dollars.
South Korea is the fifth biggest investor in India after the United States, Mauritius, Britain and Japan, according to official data.
Trade between India and South Korea last year totalled 4.2 billion dollars with a surplus of 1.7 billion dollars in South Korea's favour.
Indian economists say the two sides may also discuss their separate efforts for closer ties with the 10-nation Association of South East Asian Nations (ASEAN).
"Bilateral relations have to be seen in a multilateral platform and as India is working hard to join the ASEAN, a new perception may emerge because Seoul too is keen on a partnership," said Korea specialist Krishnan.
"The Korean investment pattern in India is expanding and there's significant diversification in areas like software development and biotechnology so many things can happen following such a high-level visit," Krishnan said.
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