Story perspectives

South Korea and India Aim for $50B Trade by 2030

4/22/2026

Summary

Lee Jae Myung's India Visit

South Korean President Lee Jae Myung visited India to push trade to $50 billion by 2030, spanning shipbuilding, artificial intelligence (AI), and defense.
The talks emphasize cooperation amid geopolitical uncertainties and position India as a growing global supply-chain player beyond its consumer market.
Korea aims to close trade gaps by increasing naphtha imports from India.
Lee's visit includes business events with major South Korean companies to deepen ties.

History

Historical Context

The Comprehensive Economic Partnership Agreement between India and South Korea was signed on August 7, 2009, after three-and-a-half years of negotiations. This agreement aimed to boost bilateral trade, which was $15.6 billion in 2008, by 20% annually, enhancing cooperation in technology and manufacturing. It reflects India's Look East initiative and South Korea's strategy to strengthen its global trade ties.

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Lee Jae Myung's India Visit

South Korean President Lee Jae Myung visited India to push trade to $50 billion by 2030, spanning shipbuilding, artificial intelligence (AI), and defense.
The talks emphasize cooperation amid geopolitical uncertainties and position India as a growing global supply-chain player beyond its consumer market.
Korea aims to close trade gaps by increasing naphtha imports from India.
Lee's visit includes business events with major South Korean companies to deepen ties.

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