Comprehensive Economic Partnership Agreement (CEPA)
New Delhi has managed to secure extended visas for intra-corporate transferred Indian nationals working in Korean firms. They will now get permit for three years instead of one year, as mandated earlier, as per the revised India-Korea free trade agreement.
Also, India can now export greater amount of shrimp, beer and processed food at lower duties. This move would reduce the trade deficit with South Korea by $12 billion. The two countries have set a target of increasing bilateral trade to $50 billion by 2030. Indian mangoes, maize corn, castor oil, bakery items and other marine products will also make their way to Korea at lower duties.
PM Narendra Modi and South Korean President Moon Jae-in take a tour of the world's largest mobile phone manufacturing facility after its inauguration ceremony, in Noida on July 9, 2018
Yoga for Taekwondo
Indian Yoga instructors can setup their schools in South Korea in exchange of Korean taekwondo teachers imparting training of the martial art in Bharat. Earlier only yoga instructors could go to Korea but now yoga as a service can be provided under all four modes.