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Korea eyeing stronger strategic cooperation with India
  • Registration date2024-10-31
  • Attached file

Minister for Trade Inkyo Cheong of the Republic of Korea held a conference today at the Korea Chamber of Commerce and Industry (KCCI) for discussions on measures for stronger strategic cooperation with India, whose importance is growing across the global supply chain.


The conference serves as a follow-up to the Trade Policy Roadmap announced this August, held with the participation of related experts and leaders of major economic institutions including the Korea Institute for Industrial Economics & Trade (KIET), Korea Institute for International Economic Policy (KIEP), Korea Rural Economic Institute (KREI), Korea Trade-Investment Promotion Agency (KOTRA), Korea International Trade Association (KITA), and KB Securities.


Attendees shared the view that both economic and strategic partnership with India is rising in importance with respect to Korea’s Indo-Pacific Strategy, with the acknowledgement that other major countries are making efforts for cooperation with India through various ways benefiting regional security and economic growth. Accordingly, experts voiced the need for stronger cooperation with India in sectors of respective competitiveness such as Korea’s digital and advanced manufacturing as well as India’s space and information technology (IT).


In his opening message, the trade chief stated that the two countries hold great potential for cooperation over a wide range of areas like trade, investment, and supply chains, but that outcomes so far have remained somewhat limited. He added that the Government will seek tangible collaboration measures by realigning the existing cooperation framework so that Korea and India can scale new heights in bilateral trade and economic cooperation.