New Delhi [India], April 20 (ANI): Prime Minister Narendra Modi on Monday lauded the growing relationship between India and South Korea as the two nations signed several Memorandums of Understanding (MoUs) to deepen bilateral cooperation.
Addressing a joint press statement, the prime minister described the visit of South Korean President Lee Jae-myung as a vital step toward establishing a more advanced bilateral framework.
Welcoming the visiting leader, Modi said, “I am delighted 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.”
Highlighting the shared values underpinning the diplomatic relationship, Modi said the visit holds significant importance for both democracies. “Democratic values, market economy, and respect for the rule of law are in the DNA of both our countries. We also have a common outlook in the Indo-Pacific region,” he said.
The prime minister noted that the partnership is now transitioning into a more advanced phase following a decade of strengthened engagement. “Based on all this, our relations have become more dynamic and comprehensive over the last decade, and today, with President Lee’s visit, we are going to transform this trusted partnership into a futuristic partnership,” he said.
Modi emphasized that the expanded scope of cooperation will span a wide range of sectors. “We will realize new opportunities for cooperation in every field—from chips to ships, talent to technology, environment to energy—and together ensure the progress and prosperity of both countries,” he added.
President Lee Jae-myung also highlighted the economic ambitions of the partnership, stating that both countries aim to nearly double their trade engagement. He noted the goal of increasing the current annual trade volume between India and South Korea from approximately $25 billion to around $50 billion by 2030.
The South Korean president described the two nations as natural partners in an increasingly uncertain global environment. “In the era of uncertainty, we share the view that India and Korea can be ideal partners for comprehensive cooperation to promote mutual growth and innovation,” he said.
He confirmed that both sides have agreed to enhance cooperation in strategic industries, including shipbuilding, artificial intelligence, finance, and defense, while also promoting cultural and people-to-people exchanges.
The strategic alignment extends to regional security, with both leaders reaffirming their commitment to maintaining peace and stability across the Indo-Pacific.
Reiterating the shift toward a “futuristic partnership,” Modi said the momentum built since the 2010 Comprehensive Economic Partnership Agreement (CEPA) will accelerate across sectors, from entertainment to energy.
The prime minister emphasized that both democracies remain committed to regional inclusivity. “Through our shared efforts, we will continue to contribute to a peaceful, progressive, and inclusive Indo-Pacific,” he said.
The high-level discussions covered a broad agenda, including trade, investment, semiconductors, and critical and emerging technologies. (ANI)
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