President Lee Jae Myung: "We Will Work Closely With India on the Strait of Hormuz... Expand Cooperation in Electronics, Autos, Shipbuilding and Defense"

\r\n
\r\n\r\n[Financial News, New Delhi, India = Reporter Choi Jong-geun]President Lee Jae Myung, who is on a state visit to India, said on the 20th local time that "Korea will work closely with India to ensure the safe passage of ships through the Strait of Hormuz." He also stressed that cooperation would be greatly expanded into electronics, autos, shipbuilding, finance and defense, adding that he would realize the vision of "Make in India, Together with Korea."
In an interview with the Indian daily The Times of India and Navbharat Times, published that day, Lee said that "securing the safety of key sea lanes is essential to the survival of both countries."
Lee noted that a significant share of energy supplies for both countries comes from the Middle East, including crude oil and natural gas. "Korea will work closely with India to ensure the safe passage of ships through the Strait of Hormuz," he said. "Diversifying energy supplies is also important, and in the current global situation, strategic cooperation between Korea and India will play an important role in protecting our shared national interests."
In interviews with local Indian media, Lee pointed out that India is a key country in the Global South, with the world's largest population and the world's fourth-largest economy.
"India is a very ideal partner for Korea. Our cooperation goes beyond a simple complementary economic relationship and is based on our shared value of democracy," he said. "As geopolitical instability and challenges to multilateralism grow, the need for Korea and India to play a role together as global leaders is becoming even greater."
To strengthen the Special Strategic Partnership established in 2015, Lee said that advancing negotiations to improve the Comprehensive Economic Partnership Agreement is an important task.
"We will expand cooperation beyond existing sectors such as electronics and autos into shipbuilding, finance and defense to realize 'Make in India, Together with Korea,'" Lee said. "The two countries will also strengthen cooperation in Artificial Intelligence (AI) and digital technologies." He added, "Korea's world-class AI infrastructure and India's abundant talent pool are natural partners, and we will also seek new joint projects." It was also reported that the two countries will establish an Industrial Cooperation Committee at the summit. A Memorandum of Understanding (MOU) for digital policy exchanges and joint research will also be signed.
The two sides also plan to strengthen supply chain cooperation. Lee said, "In a time of changing global supply chains, reducing dependence on any single country is a matter of survival. Securing critical mineral supplies and stable maritime logistics is important." He added, "India has mineral resources, and Korea has the capacity to produce advanced products using them. Cooperation between the two countries will play an important role in building supply chains."
"There is also great potential for cooperation in shipbuilding and shipping," he said. "Korea has world-class shipbuilding technology and experience in overseas port projects. I look forward to the day when ships built jointly by our two countries sail the world's oceans."
Regarding defense, Lee said, "Korea fully supports India's Atmanirbhar Bharat policy. However, self-reliance is not a goal that can be achieved alone, and Korea's rapid industrial development was also made possible through the support of partner countries. Korea wants to be an important partner in advancing India's Atmanirbhar Bharat policy."
He added, "For example, the K9 Vajra project is a representative case of defense cooperation between the two countries." He said, "Under the K9 Vajra Phase 2 contract signed in April last year, more than 60% of total production will take place in India. Korea will continue to actively support India's localization of defense equipment production and operations."
Lee also said cultural and people-to-people exchanges between Korea and India will be expanded. "Bollywood and K-culture are important factors that can deepen cooperation further," he said. "After meeting Prime Minister Modi in Canada last June, I felt a sense of familiarity, as if I were meeting an old friend again. I expect this visit to deepen trust and friendship between our two countries even further."
cjk@fnnews.com Choi Jong-geun Reporter