South Korea

2026 state visit of Prez Lee Jae Myung & Joint Strategic Vision upgraded ties at Hyderabad House
links Korea’s adv tech w/ India’s growth scale for India’s $50T economy goal by 2047

Economic dimension

bilateral trade to double from $27 B t o$ 54B by 2030
target needs sustained 18% annual trade growth
CEPA upgrade: 2009 CEPA to be modernized thru fasttrack negotiations
Inida-Korea INdustrial Cooeration Committee to align trade, industry and resoucnes
value chain shift: move from buyer seller trade to co production, co design & co innovation

S.Korea joined India’s IPOI to protect vital sea lines
indo pacific role: middle power security cooperation aims to ease regional geopoliitcal tensions
supply chain resilience: industrial policies linked to reduce dependence on china centric value chains

india faces $15B asymmetric trade deficit
Import Export Gap: total trade $26.88B
- India imports $21 B; e x p or t so n l y$ 5.82B
CEPA constraints: restrictive rules of origin under 2009 CEPA
NTB: indian steel, agro, pharma face strict SPS barrier
project delays
- POSCO’s $12B, 12MTPA Odisha steel plant abandoned in 2017 due to land, env, mineral law issues

targeted CEPA reciprocity: secure Korean market access for Indian generic dregs & engg goods
Semiconductor integration: link digital bridge w/ India’s PLI scheme to attract korean chip fabrication units
single window clearance: Industrial Cooperation Committee should fast track land & regulatory approvals
cultural exchange programme 2026-30
- Mumbai KPop Hub
Institutional exchange: distinguished visitors programme
- 2028 Friendship Festival
  Strategic outcome: $54B target needs integrated industrial ecosystem linking korean hardware & clean tech innovaciotn w/ INdia’s digital & labour trade