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| President Yoon Suk Yeol, left, speaks with Indian Prime Minister Narendra Modi during a bilateral summit held on the sidelines of a Group of Seven summit in Hiroshima, Japan, May 20. Yonhap |
Korean President Yoon Suk Yeol has said he plans to discuss ways to strengthen defense and supply chain cooperation when he meets with Indian Prime Minister Narendra Modi this weekend, according to an interview published Friday.
In a written interview with The Times of India, Yoon said he is looking forward to his second bilateral meeting with Modi, which will take place on the margins of a Group of 20 summit in New Delhi on Saturday and Sunday.
"I believe it is crucial to institutionalize and further solidify our framework for bilateral cooperation by strengthening strategic communication and cooperation between our two friendly countries," he said, noting this year marks the 50th anniversary of the establishment of diplomatic relations between Korea and India.
"At our forthcoming bilateral meeting, PM Modi and I intend to discuss how to strengthen our bilateral defense industry cooperation ― the K9 self-propelled howitzers, known as Vajra in India, being the best example ― as well as how to expand supply-chain collaboration with a focus on IT and other high-tech fields," Yoon said, referring to the Korean-made artillery.
Yoon also shared plans to discuss the two countries' negotiations for upgrading the Comprehensive Economic Partnership Agreement (CEPA) that took effect in 2010.
"The Korea-India CEPA is playing a crucial role in expanding economic cooperation between our two countries," he said, citing increases in bilateral trade, investment and people-to-people exchanges since the agreement went into effect.
He especially noted a significant increase in Korean companies' investments in India's high-tech industries, such as electronics and automobiles, and their contribution to India's policy of promoting its manufacturing industry.
"I am confident that the Republic of Korea and India will be able to secure mutually beneficial results going forward through the negotiations for upgrading CEPA," he said, referring to Korea by its formal name. (Yonhap)
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