Business Asia World

South Korea-India Trade Deal

South Korea-India Trade Deal

The two leaders witnessed the signing of several Memorandums of Understanding covering cooperation in sectors from 'chips to ships.' The agreement prioritizes the security of maritime routes, particularly the Strait of Hormuz, which is vital for the energy needs of both nations.

President Lee's six-day trip also includes a visit to Vietnam as Seoul seeks to expand its influence in the Global South.

The deal represents a significant step toward economic 'co-prosperity' and reduced dependence on traditional Western partners.

Narendra Modi Prime Minister's Office, GODL-India
Narendra Modi
Prime Minister of India since 2014
Lee Jae Myung
President of South Korea since 2025
India
Country in South Asia
South Korea
Country in East Asia
New Delhi
Capital city of India