The agreement was signed by Shipping Minister Nitin Gadkari and his Korean counterpart Kim Young-choon at a ceremony in Busan, a large port city in South Korea.
It paves way to the two governments to mutually recognise the certificates of maritime education and training, competency, endorsements and medical fitness of seafarers issued by each other, the Shipping Ministry statement said.
"Korea is a large ship owning nation. As of now, Korean entities own more than 500 foreign going ships, and need seafarers to work on their fleet. India has around 1,54,349 seafarers. The agreement will open up employment opportunities for Indian seafarers on Korean ships," it said.
On the occasion, Gadkari, who is on a four-day visit to Korea since Monday, said the agreement will benefit both countries.
On the second day of his official visit, Gadkari held bilateral meeting with the South Korean Oceans Minister Kim Young-choon.
He also visited Busan Port and attended India-Korea Maritime Cooperation Forum.
Gadkari's visit is aimed at strengthening the bilateral cooperation between the two countries in shipping, ports, inland waterways, highways, river interlinking and infrastructure sectors.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
