The South Korean government convened an economic cooperation conference with India on Friday, aiming to identify opportunities for enhanced collaboration in cutting-edge sectors such as artificial intelligence (AI) and resilient supply chains. The Ministry of Trade, Industry and Resources spearheaded the initiative.
The conference, orchestrated by the Ministry of Trade, Industry and Resources, drew participation from approximately 200 government officials and business leaders from both nations. Notable attendees included Korean Trade Minister Yeo Han-koo, Indian Ambassador to Korea Gourangalal Das, and Shri Rajat Kumar Saini, CEO of the National Industrial Corridor Development Corporation of India.
During the event, leading Korean trade promotion agencies and research institutions emphasized the need for stronger partnerships between Seoul and New Delhi in strategic industries. Focus areas included AI, space exploration, and other advanced technologies, where the complementary strengths of both countries could be leveraged, according to the ministry.
“In the context of a rapidly evolving global trade landscape, economic cooperation with India, a pivotal partner for Korea under its New Southern Policy and a leading voice in the Global South, is of paramount importance,” stated Minister Yeo in his opening address.
Minister Yeo highlighted the significant potential for increased bilateral trade between Korea and India. Despite a combined GDP comparable to the 11 members of the Association of Southeast Asian Nations (ASEAN), the annual trade volume between Korea and India remains around $25 billion, significantly lower than Korea’s $200 billion trade volume with ASEAN.
