Korea currently has contracts with the following countries from March 2020: considering that the attached Agreement between the Government of the Republic of India and the Government of the Republic of Korea for the Avoidance of Double Taxation and the Prevention of Tax Evasion in the Context of Income Tax has been ratified and the instruments of ratification have been exchanged in accordance with Article 29, paragraph 1 of that Convention, on 1 August 1986; 3. Without prejudice to paragraph 2 of this Article, i. as regards the tax withheld at source on sums paid or credited to non-residents on or after the first of January of the calendar year following the calendar year in which the Agreement is initialled; and 4. The competent authorities of the States Parties may communicate directly with each other with a view to reaching an agreement within the meaning of the above-mentioned paragraphs. 4. In the first State Party, enterprises of a Contracting State the capital of which is whoreby or partly owned or controlled directly or indirectly by one or more residents of the other State Party shall not be subject or likely to be subject to the imposition in the first-mentioned Contracting State of requirements which are different or more onerous than those imposed on other similar enterprises of that first-mentioned State. 4. The competent authorities of the Contracting States may communicate directly with each other with a view to reaching an agreement within the meaning of the above paragraphs. If it appears appropriate to hold an oral exchange of views with a view to an agreement, such exchange may take place through a committee composed of representatives of the competent authorities of the Contracting State. Article 27 EXCHANGE OF INFORMATION 1. The competent authorities shall exchange the information necessary for the application of the provisions of this Convention or of the domestic law of the States Parties relating to the taxes covered by the Convention, in so far as the taxation provided for in this Convention is not contrary to the Convention, in particular for the prevention of tax evasion or avoidance. Article 1 does not limit the exchange of information.
All information received by a State Party shall be treated secretly in the same manner as information obtained under the domestic law of that State. Is information initially considered secret in the transmitting State disclosed to persons or authorities (including courts and administrative bodies) involved in the assessment or collection of enforcement or prosecution with regard to the determination of actions relating to the fees which are the subject of the Convention . . .