UNJournal Kayla Lee | Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR) attended the Korea–India Economic Cooperation Conference on February 20, 2026, at the Lotte Hotel Seoul. Held under the theme “The Future of Korea–India Economic Cooperation for Shared Prosperity,” the conference examined practical directions for future economic cooperation with India, a country drawing growing attention as a next-generation manufacturing base and key supply chain hub, backed by its vast domestic market and an annual growth rate of 6 to 7 percent.
The event brought together approximately 200 participants—including H.E. Gourangalal Das, Ambassador of India to the Republic of Korea, and Shri Rajat Kumar Saini, CEO & MD of India’s National Industrial Corridor Development Corporation (NICDC), along with government officials and representatives from companies and institutions, underscoring strong interest on both sides in bilateral economic cooperation.
In the presentation session, the Korea Institute for International Economic Policy (KIEP) reviewed recent trends in Korea–India economic and trade cooperation. The institute noted that India has maintained robust growth supported by a large, young population, financial stability, and proactive industrial policies, and emphasized the need to step up collaboration in advanced industries and supply chains. In addition, Korean companies that have successfully entered the Indian market in advanced industries, consumer goods, and content shared their on-the-ground experiences and key outcomes. The Indian government presented India’s investment climate and incentives and outlined policies to foster shipbuilding and maritime industries, suggesting new opportunities for cooperation.
A panel discussion followed with participants from the Korea Trade-Investment Promotion Agency (KOTRA), the Korea Institute for Advancement of Technology (KIAT), and the POSCO Research Institute. The panel discussed ways to strengthen Korea–India strategic cooperation and agreed on the need for closer government–industry–research collaboration to maximize synergies in areas where the two countries have complementary strengths, including AI, advanced industries, and aerospace.
Trade Minister Yeo underscored that economic cooperation with India “matters more than ever” amid rapid shifts in the global trade environment, describing India as a core New Southern Policy partner and a leading member of the Global South. He added, “India’s GDP—roughly USD 4.0 trillion—is about the same as the combined GDP of the 11 ASEAN countries. Yet Korea’s annual trade with India stands at about USD 25.0 billion, compared with around USD 200.0 billion with ASEAN, which indicates substantial room to expand Korea–India trade.”
He said the two countries will broaden their partnership to cover cooperation in AI, digital trade, supply chains, green energy, and manufacturing in response to the new trade environment. He affirmed that “Korea will work with the Indian government to resolve key economic cooperation issues, including the upgrade talks on the Korea–India Comprehensive Economic Partnership Agreement (CEPA), to create the best possible conditions for bilateral cooperation."
