Prime Minister Narendra Modi and South Korean President Lee Jae-myung held wide-ranging talks at Hyderabad House in New Delhi on April 20, 2026, in a bilateral meeting both sides described as fruitful and forward-looking. The summit, the first state visit by a Korean president to India in eight years, resulted in the announcement of a Joint Strategic Vision for 2026–2030 under the framework of their Special Strategic Partnership.
The two leaders set an ambitious target of doubling bilateral trade from the current $27 billion to $54 billion by 2030, implying an annual growth rate of nearly 18 percent. Commerce Minister Piyush Goyal, who addressed a business dialogue on the sidelines, noted that even this figure does not fully capture the potential of the relationship.
Following the summit, both sides exchanged several Memoranda of Understanding covering trade, shipbuilding and the maritime sector, digital cooperation, critical and emerging technologies, education, culture, sports, and people-to-people ties. Sectors including artificial intelligence, semiconductors, energy, critical minerals, and steel were identified as priority areas for deepened collaboration.
On the economic foundation, South Korea’s bilateral trade with India stood at $26.89 billion in FY2025, with Seoul ranking as the 13th largest FDI investor in India with cumulative inflows of $6.69 billion from April 2000 to March 2025.
Both governments also pledged to restart and upgrade negotiations under their 2010 Comprehensive Economic Partnership Agreement to improve trade balance and expand market access. On the diplomatic track, the two sides agreed to hold annual summits, high-level visits, and joint commission meetings to ensure sustained momentum through 2030.
In a symbolic gesture, President Lee planted a sapling under India’s ‘Ek Ped Maa Ke Naam’ environmental initiative, reflecting a shared emphasis on sustainability.
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