Prime Minister Narendra Modi emphasized the shared vision of India and South Korea for the Indo-Pacific region during a joint press conference with South Korean President Lee Jae Myung. Both nations aim to promote peace and progress in the region amidst global tensions. They also highlighted the importance of global institution reforms to tackle worldwide challenges.
President Lee’s visit to India marks a significant step in enhancing the partnership between the two countries. The leaders expressed their commitment to strengthening cooperation across various sectors, from technology to trade, to ensure mutual progress and prosperity. India and South Korea have set ambitious goals to boost bilateral trade to $50 billion by 2030.
In a bid to deepen economic ties, India and South Korea have established an Industrial Cooperation Committee and will initiate an Economic Security Dialogue to enhance collaboration in critical technologies and supply chains. Additionally, plans are underway to create Korean Industrial Townships in India to facilitate the entry of Korean companies, particularly SMEs.
Cultural affinity between India and South Korea was also underscored, with PM Modi announcing a Friendship Festival in 2028 to reinforce their longstanding cultural connections. The rich historical ties and growing interest in each other’s cultures, including K-pop and Indian cinema, further solidify the bond between the two nations.
