Korea and India Leaders Agree on "Cooperation of a Completely Different Dimension"... Adopt 15 MOUs and 5-Year Joint Strategic Vision

During his state visit to India, President Lee Jae-myung held a summit meeting with Indian Prime Minister Narendra Modi on the 20th (local time) and agreed to elevate bilateral relations to "a completely different level" than ever before. The two countries signed a total of 15 memoranda of understanding (MOUs), which included the establishment of a Port and Industrial Cooperation Committee and collaboration on small and medium-sized enterprises. They also adopted a "Joint Strategic Vision" document outlining the direction of cooperation for the next five years through 2030. In addition, the two sides exchanged three supplementary documents: a "Comprehensive Framework for Partnerships in Shipbuilding, Shipping, and Maritime Logistics," a "Joint Statement on Cooperation in the Field of Sustainability," and a "Joint Statement on Energy Resource Security."

President Jaemyung Lee and Indian Prime Minister Narendra Modi are shaking hands at a state banquet hosted by Indian President Draupadi Murmu at the Presidential Palace in New Delhi, India, on the 20th (local time). Photo by Yonhap News

원본보기 아이콘

On the 21st, Wi Sung-rak, Chief of the National Security Office, evaluated the visit in a written briefing after the conclusion of all Korea-India summit events, stating, "This state visit to India, the first in eight years, served as an opportunity to launch Global South diplomacy in earnest. It also marked a turning point for creating new momentum for cooperation with India, a country experiencing rapid growth with a population of 1.4 billion, and for expanding the horizon of cooperation into future-oriented and strategic fields."

President Lee began his official itinerary with an official welcoming ceremony and a wreath-laying at the Gandhi Memorial, accompanied by President Droupadi Murmu and Prime Minister Modi. He then attended a joint tree-planting event with Prime Minister Modi as part of their friendship program, where they planted an Ashoka tree together. Notably, the one-on-one summit between the two leaders, which was originally scheduled for about 40 minutes, lasted over an hour. Chief Wi said, "The discussions were so intense that both sides' protocol teams had to be reminded about the delay in the subsequent schedule."

During this summit, the two leaders recognized that although bilateral relations have developed significantly over the past decade since being elevated to a "Special Strategic Partnership" in 2015, the achievements so far have not been fully satisfactory compared to the cooperation potential. Accordingly, they agreed to use this meeting as an opportunity to bring bilateral relations not just one step higher, but to a completely new dimension.

Chief Wi explained, "Both sides agreed that Korea and India are optimal partners for achieving Korea's 'Great National Leap' and India's 'Developed India 2047' goals. In a situation where global uncertainties are rising due to the Middle East war and other factors, the two countries agreed to work closely together to promote mutual growth and innovation, and to jointly overcome the challenging international economic environment."

Yonhap News Agency

원본보기 아이콘

According to Chief Wi, during the one-on-one meeting, Prime Minister Modi remarked that the Nobel laureate Rabindranath Tagore's prophecy over a hundred years ago-that Korea would become a "lamp of the East"-has come true and led to a "revolution of light." In response, President Lee pointed out that, despite India's large population and GDP, the Korean community in India remains at about 12,000 and the number of Korean companies operating there is only about 670, indicating that Korea-India relations have stagnated. He suggested that private exchanges, economic cooperation, and security collaboration should be elevated to a new level.

The two leaders also agreed that democracy serves as a crucial foundation for bilateral cooperation. Chief Wi explained, "The two leaders shared the view that democracy fosters the full development of individual capabilities, and in that sense, cooperation between Korea and India, as leading democracies in Asia, can have a significant synergistic effect." Prime Minister Modi also shared an anecdote that, during his tenure as Chief Minister of Gujarat, while other politicians looked to the United States and other countries as models for economic development, he chose Korea as his model to accelerate the state's progress.

During the summit, President Lee also detailed the difficulties faced by Korean businesses in India and the requests raised during the previous day's meeting with overseas Koreans, urging improvements from the Indian side. In response, Prime Minister Modi immediately promised to listen closely to the concerns of Korean companies and seek solutions, and he also called for increased Korean investment in and entry into India.

President Lee Jae-myung and Indian Prime Minister Narendra Modi are preparing for an expanded summit at the state guest house in New Delhi on the 20th (local time). Yonhap News Agency

원본보기 아이콘

The subsequent expanded summit focused on cooperation in new strategic sectors such as shipbuilding, finance, artificial intelligence (AI), and the defense industry. President Lee proposed the comprehensive strengthening of practical cooperation across almost all areas, including forming an Industrial Cooperation Committee, financial collaboration, promoting the entry of small and medium-sized enterprises, scientific and technological cooperation, environmental and climate cooperation, defense and military industry collaboration, cultural and people-to-people exchanges, expanding Korean language education, and cooperation in the gaming sector. Chief Wi stated, "The two leaders also discussed ways to contribute to international peace and stability amid rapidly changing global circumstances, including issues on the Korean Peninsula and the recent situation in the Middle East. Discussions also included securing key raw materials such as naphtha and cooperation as major energy importing countries."

Throughout the visit, the two leaders displayed a deep personal bond, like friends reuniting after a long time. Prime Minister Modi said, "I warmly remember my first meeting with President Lee last year in Canada and had high expectations for today's summit." In response, President Lee said, "It feels as if an apprentice and a 'Chaiwala' (tea seller) have met like old friends," expressing his sense of camaraderie. At this meeting, President Lee invited Prime Minister Modi to visit Korea at an appropriate time in the future, and Prime Minister Modi responded positively, according to Chief Wi.

At the luncheon hosted by Prime Minister Modi after the summit, leading businesspeople from both countries attended to discuss ways to strengthen economic cooperation. President Lee later attended the Korea-India Business Forum, had a meeting with President Murmu, and participated in the state dinner. Chief Wi explained, "Both the presidential meeting and the state dinner lasted much longer than scheduled. Although the official program was originally set to conclude at around 8:30 p.m. local time, the warm and in-depth conversations between the two sides extended the conclusion to 9:40 p.m., about an hour later than planned."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.