Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
President says Korea–India relations will enter 'entirely new level' after summit
President Lee Jae Myung delivers a speech during a meeting with members of the Korean community in India at a hotel in New Delhi, Sunday. Yonhap
By Yi Whan-woo
Lee finds Korean community in India 'invaluable assets' in strengthening ties
NEW DELHI — President Lee Jae Myung said Sunday that Korea and India are expected to take their relations to “an entirely new level” at a planned bilateral summit, adding that ties have lagged despite India’s growth potential.
Speaking before members of the Korean community in India, Lee expressed hope that they can serve as “invaluable assets” in strengthening bilateral ties.
“The level of cooperation between Korea and India is quite low compared to India’s vast potential, and Indian authorities agree with this assessment,” Lee said as he met the community members on the first day of his official visit to India from Sunday to Tuesday.
“I believe that tomorrow’s summit could become a turning point, elevating Korea–India relations to an entirely new level,” the president said.
Lee’s remarks came a day before a scheduled summit with Indian Prime Minister Narendra Modi. India, which has the world’s largest population of 1.4 billion, is the fourth-largest economy globally and continues to post robust annual growth of over 6 percent.
India is also no longer just a consumer market but has become a key driver of global production and supply chains.
However, as for relations with Korea, India hosts only a little over 12,000 Koreans.
The country also has about 600 to 700 Korean companies operating there, compared to more than 10,000 firms in Vietnam, Lee’s next destination on his two-leg trip this week.
“Going forward, we will transform Korea–India relations into something completely different from what they are now,” he added.
The president referred to Korean expatriates as “invaluable assets” in boosting bilateral ties, citing their experience, networks, and deep understanding of the local environment.
“I look forward to your continued role as civilian diplomats in helping strengthen bilateral relations,” he said.
The president noted that ongoing conflicts in the Middle East and energy security risks could make Korea and India “crucial strategic partners for each other.”
He pointed out that, like Korea, India also depends heavily on imports for raw materials and energy, creating significant opportunities for cooperation.