India and Republic of Korea have decided to stimulate investments to push infrastructure development and bilateral trade. <br/><br/>Finance Minister Arun Jaitley who is on a four day visit to Republic of Korea co-chaired the fifth India-Korea Financial Dialogue in Seoul on Wednesday with Deputy Prime Minister and Finance Minister Kim Dong-yeon of that country. <br/><br/>They agreed that in the face of uncertainty and the risk of rising protectionism, there is an urgent need to increase efforts to stimulate investment flows. According to an official release,the two countries also signed agreements to establish 9 billion US dollar in concessional credit and 1 billion dollar in Official Development Assistant,ODA funding for infrastructure development projects in India.<br/><br/>The signing of the agreement implemented a decision taken during the visit of Prime Minister Narendra Modi to South Korea in 2015.<br/><br/>With this, Republic of Korea became one of the First non-G-7 countries to become an ODA contributor in India. <br/><br/>Both the Ministers also agreed to consider deploying part of this fund towards the Smart City projects in India. The release added, as the world's fastest growing large economy, India offers Korea important opportunities to deploy its capital and technologies and for India, South Korea's interest in finding new openings.