Prime Minister Narendra Modi stated that India and South Korea share a similar vision for the Indo-Pacific, focusing on peace, stability, and inclusive development. During a joint press interaction with South Korean President Lee Jae Myung, he underlined that both countries are committed to promoting harmony in a time marked by global uncertainty. He also emphasized that reforms in global institutions are necessary to effectively deal with evolving international challenges.
Welcoming President Lee on his first visit to India, Modi described his journey as one defined by perseverance and dedication to public service. He noted that even though this was Lee’s first official trip, his interest in India has been visible for a long time. According to Modi, this visit marks an important step toward transforming the existing partnership into a more future-ready and dynamic collaboration.
He highlighted that ties between the two nations have significantly evolved over the past decade, supported by shared democratic values, strong economic frameworks, and mutual respect for the rule of law. Both countries now aim to expand cooperation across various sectors, including advanced technology, manufacturing, energy, environment, and skilled talent exchange, which will help drive mutual growth.
To strengthen economic engagement, India and South Korea have introduced several new initiatives. Current bilateral trade stands at around $27 million, with a goal to increase it to $50 million by 2030. Efforts such as launching a financial forum, establishing an industrial cooperation committee, and initiating an economic security dialogue are expected to improve collaboration in critical technologies and supply chains. Additionally, plans are in place to develop Korean industrial zones in India, making it easier for businesses, especially smaller firms, to enter the market.
The leaders also acknowledged the deep cultural connections between the two nations, which date back centuries. Growing interest in Korean entertainment in India and increasing appreciation for Indian culture in South Korea reflect this bond. To further strengthen these ties, both countries plan to host a Friendship Festival in 2028, aimed at enhancing cultural exchange and people-to-people connections.
