South Korean builder Daewoo Engineering & Construction said Friday that Chairman Jung Won-ju was honored with the Mahatma Gandhi International Award in recognition of his efforts to strengthen economic cooperation and exchanges between South Korea and India.

The award, an accolade presented by the New Delhi-based Non-Resident Indians Welfare Society, recognizes international figures who foster mutual understanding and strengthen cultural and economic ties between India and other nations. Jung is the first South Korean to receive this honor, joining past recipients such as Nobel Peace Prize laureate Mother Teresa.

The ceremony was held Wednesday at Gandhi Smriti in New Delhi and attended by prominent figures in Indian politics and business.

“South Korea and India are expanding cooperation in technology, infrastructure and other sectors," Gurinder Singh, chairman of the NRI Welfare Society reportedly said at the event. "Through academic, cultural and professional exchanges, our relations continue to grow stronger. As the leader of a global company, Chairman Jung is expected to play a significant role in fostering partnerships across diverse fields."

Established in 1981, the NRI Welfare Society is the largest private organization representing global Indians with a mission to promote economic, cultural and educational exchanges through its awards and initiatives.

Jung is currently visiting India with a delegation from the Korea Housing Builders Association, where he also serves as a president. The association, founded in 1985, represents the rights and interests of its approximately 10,000 member companies.

His visit included meetings with local developers to discuss market conditions and explore opportunities for South Korean construction firms according to Daewoo E&C. Jung will also attend the Korea-India Business Forum jointly hosted by Herald Media Group, Korea International Trade Association and the Confederation of Indian Industry, in New Delhi, on Friday.