Ministry of Trade, Industry and Energy

The Ministry of Trade, Industry and Energy and the Indian Embassy to Korea co-hosted the Korea-India Insight Forum at the Residence of the Indian Ambassador to Korea on Friday, April 4, to have in-depth discussions on strategic cooperation between the two countries across the economic and trade sectors. 

This Forum was joined by the two governments and private experts, and prepared to devise cooperation directions between the two countries amid the deepening structural shift of international trade orders, such as global supply chains restructuring, technology competition, exports of over-capacities and tariff escalations.

Participants agreed on the significance of relations between Korea and India as Special Strategic Partners, and emphasized the need for practical cooperation centered around new industries including development cooperation, digital transformations, advanced manufacturing, infrastructure, clean energy, human resource mobility as well as mutual trade and investment. 

Director General of the Bureau of International Trade Relations Jongchul Kim  mentioned that although the outcomes of cooperation between the two countries have been limited compared to the potential, this year will be an opportunity to reshape the existing cooperative framework and pursue substantial cooperation. Concurring with DG Kim, India’s Ambassador to Korea Amit Kumar suggested intensifying bilateral engagement to seize emerging opportunities and establishing sustainable partnerships across multiple sectors based on respective economic structures, growth potential and mutual strategic benefits.

In commemoration of the 10th anniversary of Special Strategic Partnership, the Korean and Indian governments will enhance policy communication and cooperation across a wide range of sectors going forward.