"South Korea's participation in our 'Make in India' mission has created many employment opportunities in India," Prime Minister Modi said while addressing a joint press statement here with South Korean President Moon Jae-in.
He further said that Korean companies have made an identity for themselves in every household of India due to their commitment,
Prime Minister Modi also acknowledged Moon Jae-in's role in accelerating the peace process in the Korean peninsula.
"Credit for accelerating the peace process in the Korean peninsula goes to President Moon Jae-in. I believe that the positive environment that has been created is an effort of President Moon," he added.
The Prime Minister then extended cooperation to reduce tension in the proliferation links between north and south Asia.
"The proliferation links between north and south Asia are a matter of concern of India, India is a stakeholder in the peace process. We will offer all possible cooperation in order to reduce tension. We have also decided to step up scale of consultation and cooperation," he said.
Prime Minister Modi and President Moon witnessed the exchange of agreements and seven memorandums of understanding (MoUs) were signed between the two countries.
Earlier in the day, Moon Jae-in visited Rajghat and paid floral tribute to Mahatma Gandhi.
He was accompanied by his wife, Kim Jung-sook, Minister of State (MoS) for External Affairs General (retd) VK Singh, among other officials.
After paying homage, President Moon signed the visitor's book and was gifted with a bust of Mahatma Gandhi.
President Moon was accorded a ceremonial reception and inspected a guard of honour at the Rashtrapati Bhawan earlier today.
Thereafter, the South Korean President met his Indian counterpart Ram Nath Kovind and his wife Savita Kovind, Prime Minister Narendra Modi and other high-ranking officials.
Later in the day, Prime Minister Modi will hold official talks with President Moon at Hyderabad House, which will be followed by an official lunch.
The two leaders will also address the India-South Korea CEOs roundtable.
In the evening, President Moon will once again meet his counterpart President Kovind, who will host a banquet for the visiting dignitary and his delegation at the Rashtrapati Bhawan.
This is President Moon's first-ever state visit to the country after he took over as the President last year.
The South Korean President is leading a delegation comprising senior members of his cabinet, officials as well as industry captains. (ANI)