South Korea's Lee Jae Myung and India's Modi aim to double trade by 2030

AP News — Apr 20, 09:27 AM

South Korea and India have agreed to nearly double bilateral trade to $50 billion by 2030, up from about $27 billion.

The announcement was made Monday following talks in New Delhi between South Korean President Lee Jae Myung and Indian Prime Minister Narendra Modi.

Modi said the countries will deepen cooperation by strengthening supply chains, improving market access and boosting investment.

Lee said the two sides agreed to expand cooperation in shipbuilding, defense and artificial intelligence.

The meeting comes as both nations seek closer ties amid global economic uncertainty and supply disruptions linked to tensions involving Iran.