On Monday, Prime Minister Narendra Modi highlighted the growing alignment between India and South Korea, stating that both nations are committed to promoting peace, stability, and inclusive development across the Indo-Pacific region.
Speaking alongside South Korean President Lee Jae Myung during a joint press interaction, PM Modi noted that the two countries share similar perspectives on regional and global challenges.
“In this era of global tensions, India and Korea together convey a message of peace and stability. We are very happy that today, (South) Korea is joining the International Solar Alliance and the Indo-Pacific Oceans Initiative. Through our joint efforts, we will together continue to contribute towards a peaceful, progressive, and inclusive Indo-Pacific. We also agree that reform of global institutions is essential to address global challenges,” the Prime Minister stated.
During the visit, President Lee’s first visit to India, PM Modi asserted, “I am happy to welcome President Lee on his first visit to India. President Lee’s life is an inspiring example of struggle, service, and dedication. Every challenge has only strengthened his resolve to serve the people. Although this is his first visit to India, his affinity for India has been evident since our very first meeting.”
The leaders discussed expanding cooperation across a wide range of sectors, including technology, manufacturing, energy, and maritime industries.
To boost economic engagement, both sides agreed to strengthen trade and investment frameworks.
Current bilateral trade stands at $27 billion. It will likely grow substantially. Both countries aim to reach $50 billion by 2030.
To support this goal, new mechanisms have been introduced, including an Industrial Cooperation Committee and an Economic Security Dialogue focusing on critical technologies and resilient supply chains.
Efforts are also underway to improve business access, with plans to establish dedicated industrial zones for Korean companies in India and to upgrade the existing trade agreement within a year.
Additionally, a financial forum now streamlines cross-border investments.
Beyond economic cooperation, both nations emphasised their longstanding cultural links.
Prime Minister Narendra Modi referred to shared historical narratives. He also highlighted the rising popularity of Korean entertainment in India. In addition, PM Modi noted increasing interest in Indian culture in South Korea.
To further strengthen people-to-people ties, the two countries announced plans to host an India–South Korea Friendship Festival in 2028. The festival will celebrate cultural exchange and mutual understanding.
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