Seoul, April 25: South Korean President Lee Jae-myung has returned home after a two-nation visit to India and Vietnam. His trip focused on expanding strategic cooperation in energy and supply chains to address uncertainties arising from conflicts in the Middle East.
According to the Yonhap News Agency, President Lee concluded his six-day journey with a summit aimed at deepening economic and strategic relations across various sectors.
On Monday, he held a bilateral summit in New Delhi with Indian Prime Minister Narendra Modi, where they agreed to enhance economic cooperation in critical minerals, energy, artificial intelligence (AI), finance, and shipbuilding.
Both sides also committed to accelerating negotiations to upgrade their Comprehensive Economic Partnership Agreement. They believe this will help increase bilateral trade from the current $25 billion to $50 billion by 2030.
On Wednesday, Lee engaged in high-level talks with Vietnam’s top leader, To Lam, in Hanoi. They agreed to strengthen economic ties in energy, infrastructure, and technology while enhancing coordination for supply chains.
Following the summit, Lee stated, “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.”
During the summit, 15 memoranda of understanding were signed to enhance collaboration with India, the world’s fourth-largest economy and home to nearly 1.5 billion people.
Notably, Lee expressed optimism about cooperation in the shipbuilding sector, following an agreement to lay the foundation for a joint shipyard in the South Asian nation.
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