New Delhi: India-South Korea ties grew closer as Prime Minister Narendra Modi on Monday signed several MoUs with Seoul aimed at deepening bilateral cooperation.In a joint press statement, Prime Minister Modi Said that the visit of South Korean President Lee Jae-myung is a key step towards a more advanced bilateral framework. Prime Minister Modi said, “I am delighted to welcome President Lee on his first visit to India. President Lee’s life was an inspiring example of struggle, service and dedication. Every challenge strengthened his resolve to serve the people. Although this is his first visit to India, his fondness for India has been evident since our first meeting.”“This visit of the South Korean President to India is extremely important. Democratic values, market economies and respect for the rule of law are in the DNA of our two countries. We also share a common outlook in the Indo-Pacific,” he added.The Prime Minister also said that the partnership between the two countries is now moving towards a more advanced stageHe said: “Based on all this, our relationship has become more dynamic and comprehensive over the past decade, and today, with President Lee’s visit, we will transform this trustworthy partnership into a future partnership. We will realize new cooperation opportunities in various fields from chips to ships, talent to technology, environment to energy, and jointly ensure the progress and prosperity of both countries.”Meanwhile, South Korean President Lee Jae-myung said the two countries aim to “increase the current annual trade volume between India and South Korea of $25 billion to about $50 billion by 2030.”He added: “In these uncertain times, we agreed that India and South Korea can be the most ideal comprehensive partners to promote mutual growth and innovation. We also agreed to strengthen cooperation in strategic industries such as shipbuilding, artificial intelligence, finance and defense, and promote cultural and people-to-people exchanges.”Both sides are also determined to work together to ensure peace and stability in the Indo-Pacific region.“Following President Lee’s visit, we will transform our trustworthy cooperation into a future partnership,” Modi said.After the implementation of the Comprehensive Economic Partnership Agreement (CEPA) in 2010, bilateral economic and trade relations have developed strongly.From chips to ships, talents to technology, entertainment to energy, we will realize new cooperation opportunities in various fields. “The Prime Minister said that both sides will continue to work towards building an inclusive Indo-Pacific region.“Through our joint efforts, we will continue to contribute to a peaceful, progressive and inclusive Indo-Pacific,” he said.The talks also focused on strengthening ties in areas such as trade, investment, artificial intelligence, semiconductors, critical and emerging technologies and people-to-people connections.
