Page 39 - NIS English 16-31 May, 2026

Korean President’s India Visit | INTERNATIONAL

Memorandum of Announcements…
Understanding (MoUs) n Launch of an economic security dialogue.
n Cooperation in the ports sector. n Establishment of a Distinguished Visitors
n Establishment of an Industrial Cooperation Programme (DVP).
Committee.
n Cooperation in the fields of technology and n Launch of a dialogue between the two foreign
ministries on global themes, including climate
trade for the steel supply chain. change, the Arctic, and maritime cooperation.
n Cooperation in the small and medium-sized
enterprise (SME) sector. n South Korea’s participation in the Indo-Pacific
n Cooperation in the field of maritime heritage. Oceans Initiative (IPOI).
n Agreement between NPCI International n South Korea’s participation in the International
Payments Limited and the Korea Financial Solar Alliance, and India’s membership in the
Telecommunications and Clearing Institute Global Green Growth Institute (GGGI).
(KFTC). n Observance of the year 2028–29 as the India-
n Cooperation in the fields of science and South Korea Friendship Year.
technology.
n Framework for the India-Korea Digital Key Highlights…
Partnership. n An Industrial Cooperation Committee has been
n Cooperation in the fields of climate and constituted to facilitate trade cooperation.
environment.
n Cultural exchange between India and South n Korean industrial townships will be established
to facilitate the entry of Korean companies,
Korea for the period 2026–2030. particularly small and medium enterprises
n Cooperation in cultural and creative industries. (SMEs) into India.
n Cooperation in the sports sector.
n The trade agreement between the two countries
will be upgraded within the next year.
n An India-Korea Friendship Festival will be
organised in India in 2028.
n Education, research collaboration, and tourism
will be promoted to strengthen people-to-
people ties.

has currently reached $27 billion, and a target has
been set to expand this figure to over $50 billion by
the year 2030. Additionally, the India-Korea Finan-
cial Forum has been launched to facilitate economic

relations between the two nations. n

May 16-31, 2026 || NEW INDIA SAMACHAR 37