India-South Korea Forge Stronger Economic and Cultural Ties
India and South Korea aim to double bilateral trade to $50 billion by 2030, agreeing on enhancing their economic partnership. Prime Minister Modi and President Lee Jae Myung explored cooperation in critical minerals, energy, and technology, underscoring shared cultural ties with initiatives like the India-Korea Friendship Festival.
- Country:
- India
India and South Korea have pledged to nearly double their bilateral trade to $50 billion by 2030. Prime Minister Narendra Modi and South Korean President Lee Jae Myung committed to upgrading their economic partnership and signed 15 agreements to bolster ties in various sectors.
The two nations also agreed to boost cooperation in energy, critical minerals, shipbuilding, and semiconductors. A joint strategic vision for an enhanced Indo-Pacific partnership was unveiled, emphasizing the aim to foster peace and stability amid global tensions.
On the cultural front, Modi highlighted shared heritage stories and the rising popularity of K-pop and Indian cinema. An India-Korea Friendship Festival is planned for 2028 to further solidify cultural connections.
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