September 11, 2023
The Power of India-South Korea Ties
One Indo-Pacific relationship that has been largely overlooked is that between South Korea and India. These two rising middle powers will increasingly help shape the economic, political, security, and digital landscape of the Indo-Pacific region. The synergy and cooperation between the two countries on pressing issues like the realignment of supply chains for critical minerals and technologies, protecting the maritime commons, bridging the developed and developing economies, and supporting the Association of Southeast Asian Nations (ASEAN) framework will make a critical difference in a region faced with intensifying competition between the United States and China. This weekend’s Group of 20 (G20) Summit in New Delhi provided an opportunity for Indian Prime Minister Narendra Modi and South Korean President Yoon Suk Yeol to build on their expanding bilateral ties and demonstrate to the world that they bring unique perspectives that will help resolve the most vexing global challenges.
The economic and geopolitical imperatives for expanding India-South Korea bilateral ties are clear.
It is fitting to put a spotlight on progress of India-South Korea ties since this year marks the fiftieth anniversary of diplomatic relations between the two countries. The India-Korea economic relationship has been deepening for some time, and in 2009 the two nations signed a Comprehensive Economic Partnership Agreement (CEPA) to reduce tariff and non-tariff trade barriers to bilateral trade. By 2021, bilateral trade in goods between New Delhi and Seoul had reached $24 billion, and India was Korea’s seventh-largest export market.
Read the full article from Korea on Point.
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