Trade and tech ties get a boost as PM Modi hosts South Korean president

NEW DELHI: In this period of global tensions, India and South Korea together send a message of peace and stability, said PM Narendra Modi as he hosted President Lee Jae Myung for bilateral talks and announced a series of initiatives to enhance the special strategic partnership between the two countries.

These included the launch of an India-Korea digital bridge to deepen partnership in AI, semiconductors and information technology and also the signing of MoUs in areas like shipbuilding, sustainability, steel and ports. PM Modi said that the two sides were laying the foundation for the success stories of the next decade, with the common agenda of doubling trade to $50 billion by 2030.




The two countries signed over a dozen MoUs, including a joint declaration on Resuming the Negotiations to upgrade the Comprehensive Economic Partnership Agreement (CEPA) between India and South Korea.

Ahead of his meeting with PM Modi, Lee had told TOI in an interview that a key priority was accelerating negotiations to upgrade the CEPA.

The visit by Lee also saw major outcomes like a Joint Strategic Vision for the India-Republic of Korea (ROK) Special Strategic Partnership, India-ROK Comprehensive Framework for Partnership in Shipbuilding, Shipping & Maritime Logistics, India-ROK Joint Statement on Cooperation in Field of Sustainability and India-ROK Joint Statement on Energy Resource Security.

PM Modi said that democratic values, a market economy and respect for the rule of law were embedded in the nations' DNA.

"From chips to ships, from talent to technology, from environment to energy, we will realise new opportunities for cooperation across sectors and together ensure progress and prosperity for both countries." PM Modi said.
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