New Delhi [India], April 20 : In a landmark address at the India-Korea Business Forum, South Korean President Lee Jae-myung on Monday called for a "new voyage" in bilateral relations, urging a strategic pivot toward high-technology partnerships, doubled trade volumes, and deeper cultural integration.
President Lee opened his speech by acknowledging India's ascent as a primary engine of global growth. He specifically lauded Prime Minister Narendra Modi's Viksit Bharat 2047 initiative, noting that India's transition into a developed nation is a focal point for the international community.
"As the world's largest market with 1.4 billion people, India has positioned itself as a new pillar of the global economy. Under the leadership of Prime Minister Narendra Modi, the vision of Viksit Bharat 2047, India's aspiration to become a developed nation, has been receiving significant attention from the international community," he noted.
Tracing historical linkages between the two nations, the President referred to India's ancient maritime tradition and cultural exchanges with the Korean peninsula. "For centuries, India has played a leading role in global trade, from harnessing monsoon winds to exporting cotton textiles and gemstones to distant parts of the world. India's maritime civilisation dates back over 2,000 years," he said.
To underscore the depth of the partnership, the President invoked the ancient Pagoda in Gimhae city, which contains stones believed to have originated from India over 2,000 years ago.
He added, "When ships crossed oceans to reach Korea, the Pagoda in Gimhae city stands as a symbol of this ancient connection. It is believed that some of the stones used in the pagoda originated from India. This structure symbolises humanity's unwavering determination to overcome crises and uncertainties."
His address celebrated the deep roots already established by industrial giants from South Korea and India.
He said, "K-pop and K-dramas are popular across India, while Bollywood, yoga, and Indian cuisine have gained strong recognition in Korea. Companies such as Samsung, LG, and Hyundai have become deeply embedded in India's economy, while Indian companies like Reliance, JSW, Tata, and Novelis are joining hands with Korean partners."
He called on to discard "outdated ways of thinking." As global markets face increasing volatility and digital restrictions, President Lee outlined a tripartite strategy to modernise the bilateral bond.
Calling for stronger cooperation amid global uncertainties, the President said it was time to move beyond outdated approaches. "In a world facing complex global challenges and restrictions on digital and economic connectivity, it is time to discard outdated ways of thinking and deepen cooperation," he said.
Outlining his vision, he proposed three key directions for future engagement.
On trade, he said, "First, we must expand trade and investment cooperation. Our current bilateral trade volume does not fully reflect the size and potential of India's economy. There is significant room for growth. I expect our trade to double in the coming years. Prime Minister Modi and I have agreed to work towards a Comprehensive Economic Partnership Agreement and achieve concrete results as soon as possible."
On technology, he added, "Second, we must create a future-oriented partnership in high-technology industries. India has world-class strengths in AI and software, while Korea has strong capabilities in semiconductors, batteries, automobiles, and other advanced manufacturing sectors."
On cultural ties, he said, "Third, we must promote stronger people-to-people exchanges. If economic cooperation is like a ship sailing together, cultural exchanges are the wind that keeps it moving forward."
The President highlighted the unique cultural philosophies that drive both nations. He noted that the fusion of India's "jugaad," the spirit of creative, frugal problem-solving, with Korea's renowned community spirit and manufacturing discipline would create an unbeatable global partnership.
"India is known for 'jugaad', symbolising creative problem-solving, while Korea is known for its strong community spirit. If we combine these strengths, I am confident our cooperation will achieve remarkable success," he said.
President Lee emphasised that the Republic of Korea and India are "reliable friends" uniquely positioned to navigate modern global challenges. Addressing a high-level assembly of business leaders and government dignitaries, the President framed the relationship not just as a modern economic necessity, but as the continuation of a maritime legacy spanning two millennia.
"Let us trust in the shared maritime voyage that began 2,000 years ago and renew our commitment today as trusted partners. The Republic of Korea and India are reliable friends, and together we can build a greater future. Right now, let us embark on a new voyage," said President Lee.