In a joint press briefing with Lee Jae-myung, Prime Minister Narendra Modi laid out an ambitious roadmap to deepen India–South Korea ties, focusing on emerging sectors such as semiconductors, shipbuilding, and digital technology. "From chips to ships, talent to technology, entertainment to energy, India and South Korea will realise new opportunities to boost ties," PM Modi said.
External Affairs Minister S. Jaishankar and Republic of Korea Foreign Minister Cho Hyun also exchanged memorandums of understanding during the briefing, signalling deeper institutional cooperation.
The Prime Minister also highlighted the growing cultural resonance between the two nations, noting the surge of Korean pop culture in India and the rising appeal of Indian cinema in South Korea. "Today, K-pop and K-dramas are getting extremely popular in India. Similarly, the recognition of Indian cinema and culture is growing in Korea too. We are happy that President Lee also appreciates Indian cinema," PM Modi said.
In a subtle nod to pop culture diplomacy, Modi added, "To strengthen this cultural connect, we will organise India–South Korea Friendship Festival in 2028."
Addressing global concerns, Modi said, "In this era of global tensions, India and Korea together convey a message of peace and stability." He added that the partnership spans multiple sectors, stating, "India and South Korea are going to transform their trusted ties into a futuristic partnership." He further noted that both nations share a common outlook for the Indo-Pacific, reinforcing strategic alignment after talks with the South Korean president.
"In this era of global tension, India and Korea together give the message of peace and stability. We are very happy that today, Korea is joining the International Solar Alliance and Indo-Pacific Oceans Initiative. We will continue to contribute towards a peaceful, progressive and inclusive Indo-Pacific through our joint efforts. We also agree that reforms in global institutions are essential to address global challenges," PM Modi said.
The Prime Minister also pointed to the steady growth in bilateral ties, stating, "Bilateral trade between India and Korea has today reached $27 billion. To reach $50 billion by 2030, we made several key decisions today. To facilitate financial flows between the two countries, we have launched the India–Korea Financial Forum. To give impetus to business cooperation, we have constituted an Industrial Cooperation Committee."
Prime Minister Narendra Modi on Monday (Apr 20) hailed the partnership between India and South Korea during a joint press conference following talks with President Lee Jae-myung. He also said that trade between the two countries will reach $50 billion by 2030. The two leaders also witnessed the exchange of MoUs between the nations.
Speaking at the press briefing following the bilateral meeting at the Hyderabad House in New Delhi, PM Modi said, "Today, bilateral trade between India and Korea has reached $27 billion. Today, we have taken several important decisions to increase this to $50 billion by 2030. To facilitate financial flows between the two countries, we have launched the India–Korea Financial Forum. To strengthen business cooperation, we have formed an Industrial Cooperation Committee. To increase cooperation in critical technology and supply chains, we are starting the Economic Security Dialogue. To facilitate the entry of Korean companies, especially SMEs, into India, we will also establish Korean Industrial Townships and within the next one year, we will also upgrade the India–Korea Trade Agreement."
PM Modi also announced the launch of the India–Korea Digital Bridge to deepen partnerships in AI, semiconductors, and information technology. "We are signing MoUs in areas such as shipbuilding, sustainability, steel, and ports. Through collaboration in the cultural and creative industries, we will also break new ground in film, animation, and gaming. Today's business forum will serve as a platform to transform these opportunities into concrete results," he added.
Speaking at the press briefing, President Lee said, "India and South Korea signed an MoU on the linking of electronic payment systems, allowing both our citizens to pay using the local QR code system when visiting each other's countries, a measure that will make mutual visits more convenient."
PM Modi described Lee's visit to India as "extremely important," adding that the two nations share "democratic values, market economy, and respect for the rule of law." He said India and South Korea also have a common outlook in the Indo-Pacific region.
"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. We will realise 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," PM Modi said.
PM Modi also highlighted the growing popularity of K-pop and K-dramas in India, and the increasing recognition of Indian cinema and culture in Korea. "To strengthen this cultural connect, we will organise India–South Korea Friendship Festival in 2028," he said.
On the financial and industrial front, both sides signed multiple memorandums of understanding to boost industrial cooperation, enhance trade and investment frameworks, and simplify regulations for micro, small and medium enterprises.
"We are laying the foundation for the success stories of the next decade. We are launching the India–Korea Digital Bridge to deepen partnerships in AI, semiconductors, and information technology. We are signing MoUs in areas such as shipbuilding, sustainability, steel, and ports. Through collaboration in the cultural and creative industries, we will also break new ground in film, animation, and gaming. Today's business forum will serve as a platform to transform these opportunities into concrete results," PM Modi said.
Lee is currently on a three-day state visit to India, marking the first visit by a South Korean head of state in eight years.
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