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Lee Returns from India, Vietnam Tour Focused on Economic Ties

President Lee Jae Myung returned home from a six-day trip to India and Vietnam. The visit focused on expanding strategic cooperation in energy, supply chains, and technology. Lee held summits with Indian PM Narendra Modi and Vietnam's top leader To Lam. Both nations agreed to upgrade trade ties and aim to double bilateral trade to $50 billion by 2030.

Key Points: Lee Returns from India, Vietnam Tour Focused on Economic Ties

  • Lee held summits with India's Modi and Vietnam's To Lam
  • Agreements on energy, AI, finance, and shipbuilding
  • Pledge to double bilateral trade to $50 billion by 2030
  • 15 MOUs signed with India for cooperation
2 min read

Lee returns from trip to India, Vietnam focused on economic ties

President Lee Jae Myung returns from India, Vietnam, focusing on energy and supply chain cooperation amid Middle East tensions.

"In light of recent developments in the Middle East, we will continue to strengthen bilateral cooperation to ensure a stable supply of energy resources and key raw materials. - President Lee Jae Myung"

Seoul, April 25

President Lee Jae Myung returned home from his two-nation swing to India and Vietnam, where he focused on expanding strategic cooperation in energy and supply chains to address uncertainties stemming from the Middle East conflict.

Lee wrapped up the six-day trip after holding summits with leaders of the two countries, aimed at deepening economic and strategic ties across various areas, reports Yonhap news agency.

On Monday, Lee held a bilateral summit with Indian Prime Minister Narendra Modi in New Delhi and agreed to step up economic cooperation in critical minerals, energy, artificial intelligence, finance and shipbuilding, among other sectors.

The two sides also pledged to accelerate talks to upgrade their Comprehensive Economic Partnership Agreement, which the countries say will help double their bilateral trade to US$50 billion by 2030 from the current $25 billion.

On Wednesday, Lee held summit talks with Vietnam's top leader To Lam in Hanoi and agreed to forge closer economic ties across energy, infrastructure and technology, and step up coordination for supply chains.

"In light of recent developments in the Middle East, we will continue to strengthen bilateral cooperation to ensure a stable supply of energy resources and key raw materials," Lee said after the summit.

The two sides also pledged to accelerate talks to upgrade their Comprehensive Economic Partnership Agreement (CEPA), which the countries say will help double their bilateral trade to US$50 billion by 2030 from the current $25 billion.

Fifteen memorandums of understanding (MOUs) were signed on the sidelines of the Lee-Modi summit to expand cooperation with India, the world's fourth-largest economy with a population of about 1.5 billion.

In particular, Lee expressed hope for collaboration in the shipbuilding sector following the signing of an agreement to lay the groundwork for the joint construction of a shipyard in the South Asian country.

- IANS

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Reader Comments

P
Priya S
Finally some good news on the economic front! The Middle East crisis is making energy security a top priority, so this partnership with Korea and Vietnam makes perfect sense. Shipbuilding collaboration is particularly interesting - we have the coastline and workforce.
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Vikram M
Honestly, these MOUs are signed every other month with different countries. What matters is implementation. India has huge potential but often lags in execution. Hope this time the CEPA upgrade actually happens quickly unlike the FTA with EU which has been dragging for years.
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Ananya R
Interesting how South Korea is diversifying its partnerships in Asia. Vietnam is already a manufacturing hub, and India offers a massive market. The shipyard joint venture could be a game-changer for our maritime sector. Let's hope it creates jobs for our youth! 🚢
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Rohit P
Both Modi and Lee seem serious about this. The $50 billion target is achievable if we really focus on removing trade barriers. But someone needs to tell our bureaucracy to speed up clearances - foreign investors still complain about red tape. Good first step though.
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Kavya N
The Middle East angle is concerning - glad India is looking at alternatives. Korea's technology in semiconductors and AI can help our Digital India push. But I wish the article mentioned more about technology transfer and skill development, not just raw numbers.

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