Korea-India Leaders Meet, Pledge to Nearly Double Bilateral Trade by 2030
South Korean President Lee Jae-myung and Indian Prime Minister Narendra Modi met in New Delhi, pledging to nearly double bilateral trade from the current $27 billion to $50 billion by 2030. Cooperation will focus on sectors like shipbuilding, defense, AI, advanced manufacturing, critical minerals, and nuclear energy, with South Korea planning to increase naphtha imports from India to mitigate supply chain risks.
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- 📰 Published: April 20, 2026 at 19:58
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South Korean President Lee Jae-myung, currently visiting New Delhi, held talks with Indian Prime Minister Narendra Modi today. The two leaders pledged to nearly double bilateral trade to deepen their economic and strategic relations.
According to the Associated Press, Modi stated that India and South Korea hope to increase bilateral trade from the current approximately $27 billion to $50 billion by 2030 by strengthening supply chains, improving market access, and encouraging expanded investment.
Modi pointed out, "India and South Korea will transform their relationship of mutual trust into a future-oriented partnership."
Lee Jae-myung's visit to India comes at a time of global economic uncertainty and supply chain disruptions caused by escalating conflicts in the Middle East. Both countries are seeking to strengthen bilateral relations to address these challenges.
Lee Jae-myung stated that both sides agreed to significantly enhance economic cooperation, focusing on areas such as shipbuilding, defense, and artificial intelligence (AI). He also mentioned that the two countries will expand industrial cooperation and strengthen economic and trade investment in sensitive fields like advanced manufacturing, critical minerals, and nuclear energy.
To strengthen supply chain resilience, Lee Jae-myung noted that South Korea plans to increase imports of naphtha, a derivative of crude oil, from India to mitigate the impact of potential disruptions from the volatile Middle East situation. Last year, India accounted for about 8% of South Korea's naphtha imports.
After concluding his visit to India, Lee Jae-myung is scheduled to travel to Vietnam. (Compiled by Liu Shuqin) 1150420
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According to the Associated Press, Modi stated that India and South Korea hope to increase bilateral trade from the current approximately $27 billion to $50 billion by 2030 by strengthening supply chains, improving market access, and encouraging expanded investment.
Modi pointed out, "India and South Korea will transform their relationship of mutual trust into a future-oriented partnership."
Lee Jae-myung's visit to India comes at a time of global economic uncertainty and supply chain disruptions caused by escalating conflicts in the Middle East. Both countries are seeking to strengthen bilateral relations to address these challenges.
Lee Jae-myung stated that both sides agreed to significantly enhance economic cooperation, focusing on areas such as shipbuilding, defense, and artificial intelligence (AI). He also mentioned that the two countries will expand industrial cooperation and strengthen economic and trade investment in sensitive fields like advanced manufacturing, critical minerals, and nuclear energy.
To strengthen supply chain resilience, Lee Jae-myung noted that South Korea plans to increase imports of naphtha, a derivative of crude oil, from India to mitigate the impact of potential disruptions from the volatile Middle East situation. Last year, India accounted for about 8% of South Korea's naphtha imports.
After concluding his visit to India, Lee Jae-myung is scheduled to travel to Vietnam. (Compiled by Liu Shuqin) 1150420
Stand with the facts, your every sponsorship is the power to protect press freedom.
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Text, images, and videos on this website may not be reproduced, broadcast, or transmitted or used without authorization.