South Korean President Lee Jae‑Myung said Monday that Seoul and New Delhi will deepen cooperation to secure stable supplies of energy resources and critical raw materials as both countries move to strengthen ties amid geopolitical uncertainty.
Lee, on a three‑day state visit to India, spoke in New Delhi after talks with Prime Minister Narendra Modi. Modi framed the summit around economic and strategic objectives, and the two leaders set a goal to double bilateral trade to $50 billion by 2030.
They agreed to pursue closer collaboration across the Indo‑Pacific and in sectors including shipbuilding, artificial intelligence and defense. According to the Korea International Trade Association, South Korea exported $19.2 billion in goods and services to India last year while importing $6.4 billion, leaving a $12.8 billion trade surplus for Seoul.
The trip marks Lee’s first state visit to India since he took office and the first visit by a South Korean leader to India in eight years. He is also scheduled to meet corporate leaders at business events during the visit. Lee said economic cooperation between the two countries remains low and pledged to expand ties to transform the relationship.
Lee described South Korea and India as increasingly important strategic partners, citing supply‑chain instability and global economic strains, including fallout from the Iran conflict. With disruptions to shipping through the Strait of Hormuz, South Korea has sought more naphtha from India; India accounted for about 8% of South Korea’s naphtha imports last year.
After concluding the visit to India, Lee is scheduled to travel to Vietnam.