In a significant step toward strengthening bilateral ties, Narendra Modi and Lee Jae Myung held high-level talks in New Delhi, resulting in the signing of four crucial Memorandums of Understanding (MoUs).
The agreements span key sectors including sports, cultural and creative industries, small and medium enterprises (SMEs), and industrial cooperation. Additionally, both nations agreed to resume negotiations for upgrading the Comprehensive Economic Partnership Agreement (CEPA) and launched the India-Korea Digital Bridge to enhance collaboration in advanced technologies.
Prime Minister Modi emphasized that amid global uncertainties, India and South Korea are united in promoting peace, stability, and inclusive growth in the Indo-Pacific region. He highlighted expanding cooperation in AI, semiconductors, IT, energy, and shipbuilding, signaling a shift toward a more futuristic partnership.
A major outcome of the meeting is the ambitious goal to increase bilateral trade from $27 billion to $50 billion by 2030, opening new avenues for economic growth and innovation.
President Lee Jae Myung praised India’s leadership in the Global South and reaffirmed Korea’s commitment to expanding cooperation in defence, AI, and maritime industries. Both leaders also discussed global developments, stressing the importance of stability in the Middle East for global economic security.
Cultural ties were also highlighted, referencing the historic connection between India and Korea, alongside the rising popularity of K-pop, K-dramas, and Indian cinema in both countries.
