South Korea’s President Lee Jae-myung is seeking to strengthen economic ties with India ahead of a summit with Prime Minister Narendra Modi, as both countries aim to significantly expand trade and deepen strategic cooperation.
The talks are expected to focus on boosting bilateral trade, with both sides aiming to nearly double it to around $50 billion by 2030, up from current levels of roughly $25–27 billion.
Key areas of cooperation include semiconductors, electric vehicles, and defence manufacturing, as both nations look to strengthen supply chains and reduce reliance on China. South Korea sees India as a crucial partner in diversifying its economic links, while India is seeking greater foreign investment and access to advanced technology to support its manufacturing growth.
Leaders are also expected to discuss reducing trade barriers and increasing investment flows. Analysts say the partnership holds significant untapped potential, particularly as global trade dynamics shift and countries seek more resilient economic alliances. The summit signals a broader push by both countries to build a stronger long-term economic partnership amid rising geopolitical uncertainty.
