South Korea has suggested India lay more emphasis on the manufacturing sector as foreign companies in China were finding it difficult to carry on production there, and were looking for better options in South East Asia. Shin Bong-kil, Ambassador, Republic of Korea (ROK) in India said this while interacting with Indian youths recently through a video conferencing meeting organized by the Confederation of Young Leaders (CYL). “China is not good anymore for foreign companies because of many factors like rising wages and reducing tolerance for foreign companies. China is not so friendly country as it was 10-20 years before. Many countries like to move away from China and they are trying to look for better places, and they are moving to South East Asia, and India is one of the destinations for them,†said the ROK ambassador. While acknowledging the fact that India reigns supreme in the service sector, the ROK ambassador said that manufacturing is also very important.
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