Finance
Prime Minister Narendra Modi stated that India and South Korea would send a message of peace and stability in this time of global turmoil. He was addressing a joint press conference with South Korean President Lee Jae Myung. The two leaders had met earlier that day at Hyderabad House in New Delhi.
This is South Korea’s first presidential visit to India in the last eight years. Following the meeting, Prime Minister Modi highlighted Korea as a key partner for India, who would help achieve the goal of a developed India by 2047.
Will contribute to peaceful Indo-Pacific: PM Modi
PM Narendra Modi said, “Korea is joining the International Solar Alliance and Indo-Pacific Oceans Initiative. We will continue to contribute towards a peaceful, progressive and inclusive Indo-Pacific through our joint efforts.”
The Prime Minister then discussed the need for reforms in global organizations. He stated that the revisions were necessary to meet global concerns. In his statement, PM Modi cited poet Rabindranath Tagore, who famously described Korea as the ‘Lamp of the East’. Today, Korea is a crucial partner in achieving India’s goal of being a developed country by 2047.
He encouraged the Korean leader to collaborate with India to pave the road for progress and prosperity not only in their own nations, but also around the world.
India has emerged as leader in global south: South Korean President Lee Jae Myung
South Korean President Lee Jae Myung thanked Prime Minister Modi and the people of India for warmly welcoming him and his delegation during their official visit. He said that India was the world’s largest democracy, seeing the most rapid growth.
Myung then went on to detail his in-depth conversations with the Indian leader. He stated that they discussed significant global and regional issues during the conference. He stated, “With the world’s largest population and fourth largest economy, India has emerged as a leader in the global south. Under your ‘Viksit Bharat 2047’ vision, India is making great progress. The Republic of Korea has also emerged as a leader in chip manufacturing, semiconductors, and cultural sectors.
Myung believes that India and South Korea are the best partners for comprehensive collaboration to achieve mutual progress and innovation. He stated that during his meeting with Prime Minister Modi, both countries committed to strengthen collaboration in vital areas such as shipbuilding, artificial intelligence, finance, and defense, as well as to boost culture and people-to-people interchange.
The South Korean President also hoped that commerce between India and South Korea would reach $50 billion by 2030. It is currently worth USD 25 billion. He also addressed the present Middle East situation, stating that regional stability and peace are essential for global security and the economy.
