INDIA-SOUTH KOREA RELATIONS

NEWS: India and South Korea signed four Memoranda of Understanding (MoUs) during South Korean President Lee Jae-myung’s state visit to India.

MoUà Between India and South Korea

• Industrial Cooperation Committee àStrengthen and scale small and medium-sized enterprises in both countries.
• Korea International Cooperation Agency (KOICA)à Will map workforce gaps and establish a joint training centre for shipbuilding and maritime skill development.
• Cooperation in sport, culture, and the creative industries will deepen people-to-people exchanges between the two countries.
• An Economic Security Dialogueà Coordinates cooperation on critical technologies and supply chains.

India-South Korea Bilateral Relations

• Bilateral ties were elevated to a ‘Special Strategic Partnership’ in 2015.
• South Korea is India’s 13th largest FDI investor= Total bilateral trade reaching $26.89 billion in FY 2024-25.
• India recorded a trade deficit of more than $15 billion in FY 2024-25.
• Key Exportsà Refined petroleum products (naphtha), aluminium, organic chemicals.
• Key Importsà Semiconductors, automobile parts, and telecommunication equipment.
• K9 Vajra-T self-propelled howitzerà co-manufactured in India through a partnership with South Korea.
• Joint Exercisesà Sahyog-Hyeoblyeog (Coast Guard) and IN-RoKN (Navy).
• The annual Sarang festival celebrates Indian culture across various South Korean cities