Archive · 13 Aug 2025
India and South Korea: Strengthening Economic Partnership
India and South Korea are like good business partners, and they are trying to work together more.
They have a special partnership since 2015, with trade increasing.
India sells things to Korea, and buys things from Korea, but buys more than it sells.
They want to trade more, especially in things like medicine and electronics.
Both countries are working on new technologies and want to create more opportunities for their people.
They want to cooperate and make new rules to solve global issues.
They are discussing ways to help each other, especially with technology and building things.
India and South Korea's relationship was elevated to a 'Special Strategic Partnership' in 2015.
Bilateral trade increased by 64% from 2015 to 2024, reaching US$ 27.4 billion, but the trade deficit widened.
India has high export potential to Korea, estimated at US$ 98 billion, with key areas like refined petroleum and medicaments.
South Korea is advancing its New Southern Policy, aiming to strengthen ties with Southeast Asia and India.
Both countries can collaborate in areas like semiconductors, shipbuilding, and digital innovation.
- Who
- India and South Korea, including businesses and governments.
- What
- A discussion on strengthening the economic ties between India and South Korea.
- When
- The article focuses on the period since 2015 and future collaborations.
- Where
- India and South Korea.
- Why
- To strengthen economic relationships, address trade imbalances, and collaborate on new technologies and global challenges.
India
South Korea
Trade Focus
India
Seeking stronger trade ties and collaboration on semiconductor technology.
South Korea
Supporting South Korea’s New Southern Policy
- Partnership Status
- Special Strategic Partnership since 2015
- Trade Increase (2015-2024)
- 64%
- 2024 Bilateral Trade
- US$ 27.4 billion
- India's Export Growth
- 4% annually
- India's Trade Deficit
- US$ 15.6 billion
- India's Potential Exports to Korea
- US$ 98 billion
- FDI from Korea to India (2015-2025)
- US$ 5.1 billion
- Indian Investment in Korea (2015-2025)
- US$ 368 million