New Delhi: India and South Korea on Monday signed four key Memorandums of Understanding (MoUs) aimed at strengthening bilateral ties across multiple sectors, including sports, cultural and creative industries, and small and medium enterprises.
The agreements were formalised following high-level talks between Prime Minister Narendra Modi and South Korean President Lee Jae Myung in New Delhi, marking a significant step forward in the two countries’ strategic partnership.
Focus on Economy, Technology and Industry
Among the major outcomes was the decision to establish an Industrial Cooperation Committee to enhance economic collaboration. Both sides also exchanged a Joint Declaration to resume negotiations on upgrading the Comprehensive Economic Partnership Agreement (CEPA), alongside launching the India-Korea Digital Bridge to boost cooperation in emerging technologies.
Prime Minister Modi said the two nations are laying the groundwork for “the success stories of the next decade,” with a renewed push in sectors such as artificial intelligence, semiconductors, and information technology.
Addressing the joint press meet with President Lee Jae Myung of the Republic of Korea.@Jaemyung_Lee https://t.co/NpU97z4dzB
— Narendra Modi (@narendramodi) April 20, 2026
From ‘Trusted’ to ‘Futuristic’ Partnership
Highlighting the expanding scope of ties, Modi noted that India and South Korea are moving from a “trusted partnership” to a “futuristic partnership”, unlocking opportunities across sectors—from chips to shipbuilding, and from talent to clean energy.
He also welcomed South Korea’s decision to join global initiatives like the International Solar Alliance and the Indo-Pacific Oceans Initiative, calling it a step towards a more sustainable and cooperative Indo-Pacific region.
Shared Values, Cultural Connect
The Prime Minister underscored the shared democratic values, rule of law, and market-driven economies that bind both nations. He also highlighted deep-rooted cultural connections, referencing the ancient link between Princess Suriratna of Ayodhya and Korea’s King Kim-Suro.
Modi noted the growing cultural exchange, with Korean pop culture gaining popularity in India, while Indian cinema and traditions are increasingly recognised in South Korea.
भारत और कोरिया के बीच हजारों वर्ष पुराने सांस्कृतिक संबंध हैं।
2000 साल पहले, अयोध्या की राजकुमारी सूरीरत्ना और कोरिया के राजा किम-सुरो की कहानी, हमारी साझा विरासत है।
आज भारत में के-पॉप, के-ड्रामा बहुत ही popular हो रहें हैं।
उसी तरह, कोरिया में भी भारतीय सिनेमा और संस्कृति…
— PMO India (@PMOIndia) April 20, 2026
Trade Target Set at $50 Billion
Bilateral trade between the two countries currently stands at around $27 billion, with both sides setting an ambitious target to raise it to $50 billion by 2030.
South Korea Backs India’s Global Role
President Lee Jae Myung praised India’s rising stature as a leader of the Global South and emphasised expanding cooperation in defence, artificial intelligence, and shipbuilding.
He said both leaders also discussed recent developments in the Middle East, agreeing that restoring stability in the region is vital for global security and economic stability.
Calling India a key partner in uncertain times, Lee said the two countries are well-positioned to drive mutual growth, innovation, and comprehensive cooperation in the years ahead.
