India and South Korea Relations UPSC

India and South Korea Relations

India and South Korea have signed numerous bilateral agreements with the aim of taking their ties to the next level. 

However, the economic partnership is struck at $22 billion annually, and their defence partnership appears to have receded from great all-round promise to the mere sale and purchase of weapon systems. In this background, let us understand the various aspects of India – South Korea relations 

India and South Korea Strategic Realtions

• India & South Korea consider their relationship to be a ‘Special Strategic Partnership’ built on the foundations of: 

• Deep-rooted historical and cultural bonds; 
• Shared universal values of democracy; 
• Free market economy; 
• Rule of law; 
• Peaceful, stable, secure, free, open, inclusive and rules-based region 

• India considers South Korea as a partner in its ‘Act East’ policy and similarly, South considers India a central pillar in its ‘New Southern Policy’. 

Third party Partnership 

• India and South Korea would explore tripartite partnership for development in third countries. 

• Both countries would begin with capacity building programmes in Afghanistan. 

India and South Korea Shared Heritage

• India and South Korea have agreed to expedite the work to upgrade the monument of Queen Suriratna (Hur Hwang-ok) in Ayodhya as a joint project to celebrate their shared heritage. 

• Princess Suriratna was a legendary Princess of Ayodhya, who went to Korea in AD 48 and married King Kim-Suro of Royal Korean family. A large number of Koreans trace their ancestry to this legendary princess. 

India and South Korea Economic Cooperation

• South Korea has shown keenness in partnering in India’s flagship initiatives, including Make in India, Skill India, Digital India, Start-up India and Smart Cities. 

• Samsung which as a South Korean company formed a new manufacturing facility in Noida, Uttar Pradesh which is perhaps the largest mobile phone manufacturing plant for Samsung anywhere in the world, reflecting South Korean partnership in ‘Make in India’ program. 

• South Korea would continue to support India’s infrastructure developmental projects through Korea’s Economic Development Cooperation Fund and Export Credit. 

India and South Korea Trade Cooperation

• India and South Korea seek for early conclusion of ongoing negotiations to upgrade the ROK-India Comprehensive Economic Partnership Agreement.

• Both countries have finalized the elements of an Early Harvest Package that would lead towards an upgraded CEPA. 

• It would facilitate ongoing negotiations on upgrading the India-RoK CEPA by identifying key areas for trade liberalization such as marine products. 

Korean Peninsula Denuclearization 

• India & South Korea committed their support for complete denuclearization as well as lasting peace and stability in the Korean Peninsula. 

• Both countries would work together to prevent proliferation of weapons of mass destruction and delivery systems, particularly to terrorists and non-state actors. 

• NSG Membership: South Korea has reiterated its support to India’s membership to the Nuclear Suppliers Group. 

India and South Korea Technology Cooperation

• India and South Korea signed an MoU on Future Strategy Group which seeks for the development of cutting edge technologies for commercialization to reap benefits of the 4th Industrial revolution. 

• India & South Korea would cooperate in research & development of : 

• Internet of Things 
• 3D Printing 
• Artificial Intelligence 
• Electric Vehicle 
• Big Data 
• Advance Materials 
• Smart Factory 
• Computing 
• Cyber security 
• Precision medicine 
• Bio Big-Data in health medicine 
• Brain research 
• Digital healthcare 
• Next generation-medical equipment 
• Affordable healthcare for the elderly and disabled 
• Next generation wireless communication Networks such as 5G & Cloud Computing