India-South Korea cooperation can drive growth in both nations: PM

Prime Minister Narendra Modi on Monday said the India-Korea Business Leaders' Dialogue highlighted the immense potential of the economic partnership between the two countries across diverse sectors. Modi emphasised that the focus of the dialogue remained on strengthening supply chains, supporting future-ready sectors and creating opportunities for the youth. "The India-Korea Business Leaders' Dialogue highlighted the immense potential of our economic partnership across diverse sectors. Our cooperation can drive growth and prosperity in both nations," the prime minister said in a post on X. 
Modi said that democratic values, a market economy, and respect for the rule of law are embedded in the DNA of both nations. He said, both countries also share a common outlook regarding the Indo-Pacific region. The Prime Minister said India and Korea share cultural ties that span thousands of years. He said the story of Princess Suriratna of Ayodhya and King Kim-Suro of Korea, which dates back two thousand years, constitutes the shared heritage. Modi said, today, K-Pop and K-Dramas are becoming immensely popular in India. He said, similarly, the recognition of Indian cinema and culture is also growing in Korea. The Prime Minister said, bilateral trade between India and Korea has reached 27 billion dollars, and today both nations have taken several important decisions to increase this to 50 billion dollars by 2030.
In his statement, the President of South Korea Lee Jae Myung, said that India has emerged as a leader in the Global South. He added that both nations will expand cooperation in Defence, AI, and Shipbuilding. Mr Lee said, he and Mr Modi exchanged views on the recent events unfolding in the Middle East and agreed that restoring stability and peace in the Middle East is crucial to global security and the economy. 
He said that in the era of uncertainty, India and Korea can be the most ideal partners for comprehensive cooperation to promote mutual growth and innovation. Besides Prime Minister Modi and visiting South Korean President Lee Jae Myung, industry leaders from both India and South Korea attended the India-Korea Business Leaders' Dialogue.