India-south Korea ties are at an all-time high
Why South Korea’s New Southern policy beautifully complements the Modi government’s Act East policy
The Republic of Korea is a fascinating story of dramatic transformation — from a predominantly agricultural economy to one of the most technologically advanced nations in the world. The maiden State visit of President Moon Jae-in to India added significant momentum to the ‘special strategic partnership’ between India and South Korea, upgraded during Prime Minister Narendra Modi’s visit to South Korea in 2015. While India can certainly benefit from Korean investments in infrastructure, manufacturing and advanced technology, India’s 1.3 billion strong market, strategic location and vibrant demographics present an ocean of opportunities for South Korea.
Relations between India and South Korea have made significant strides in recent years, with Korea committing to elevate its relations with India to the same level as its four traditional partners — China, Japan, Russia and the US — under the New Asia Community Plus framework. With gradual change in regional dynamics expected after the landmark meeting between US and North Korean leaders, the India-south Korea relationship assumes even greater significance. South Korea’s New Southern policy perfectly com- plements India’s Act East policy.
Trade and investment ties between India and South Korea witnessed a major boost after the implementation of the Comprehensive Economic Partnership Agreement in 2010. The South Korean President and the Indian Prime Minister together inaugurated a Samsung Factory on the outskirts of Delhi that is the world’s largest mobile phone manufacturing plant. The agreement for a $10 billion assistance by South Korea for high-priority infrastructure projects in India makes South Korea one of the first nations outside the G-7 to grant official development assistance and will go a long way in cementing ties between the two nations.
Upgrading the comprehensive economic partnership agreement will further boost investment and trade between the two nations and enhance cooperation in technology, cyber security, tourism and culture.
All of these were mentioned in the declaration after the recent visit by the South Korean President. Agencies such as Korea Plus, launched as an outcome of Prime Minister Modi’s visit to South Korea in 2015, can play a key role in facilitating greater cooperation in this area.
The bilateral relationship between South Korea and India is already at an all-time high. The visit by President Moon Jae-in, I believe, marked the beginning of a new chapter in this highly strategic relationship, which is emerging as one of immense significance in the future global security and economic order. Some years ago, I was experiencing a rough patch in my personal life. As an introvert, I could not share my feelings with others. I was always tense. Gradually, it also started affecting my work and behaviour at office.
I would vent my frustration and anger to those working under me with unprofessional outbursts. I was aware of the root cause of this foul mood, but I was helpless.
I didn’t know how to overcome the problem.