Venu Srinivasan, Chairman of TVS Motor Co, one of the leading two-wheeler and three-wheeler major in India and part of TVS Group, has been conferred with the title: Honorary Citizen of Busan by the Mayor, Suh Byung-soo this morning. Srinivasan is also the Honorary Consul General of the Republic of Korea in Chennai, is now in the metropolitan city of Busan on a three-day visit, meeting local entrepreneurs. He is the first Indian industrialist to be granted this honorary citizenship. After the event, Srinivasan also visited the headquarters of BS Financial Group, besides attending the Busan International Art Fair in BEXCO.
According to a statement issued by TVS Motor Co., this is yet another honour to be bestowed on him in appreciation of his relentless efforts and dedication to enhance the friendship and cooperation between the Republic of Korea and the Republic of India, as Honorary Consul General of the Republic of Korea in Chennai.
Chennai, where TVS Motor Company is headquartered, is a mecca for the Indian automotive industry as it represents 40 percent of the car production in India and 60 percent of the cars manufactured in India is exported through Chennai. Over 150 Korean companies are now in operation in Chennai, notably Hyundai Motor Company, Lotte Confectionary, Samsung Electronics and other auto parts manufacturers. Among the Busan companies operating in India is SUNGWOO HITECH, an auto spare parts manufacturer with about 1,200 employees.
With the year of 2013 (last year) marking the 40th anniversary of the establishment of diplomatic relationship between Korea and India, President Park Geun-hye made a state visit to India earlier this year (January 15-18, 2014) and agreed with the
Prime Minister of India on the need for upgrading the Comprehensive Economic Partnership Agreement (CEPA) and the expansion of economic cooperation, further enhancing the bilateral relations between Korea and India.
In November 2014, Venu Srinivasan was appointed as Honorary Commanding Officer of Korean Naval Vessel, ROKS Choi Young (DDH-981). The honour was bestowed on him in appreciation of his dedication to enhance the friendship and cooperation between the Republic of Korea and the Republic of India, as Honorary Consul General of the Republic of Korea. Venu Srinivasan was earlier felicitated in January 2010, by the President of the Republic of Korea, His Excellency Lee Myung-bak with a distinguished civilian honour ‘Order of Diplomatic Service Merit’ (Heung-In Medal) in recognition of his valuable contribution in promoting Korea-India bilateral relations.