New Delhi, April 20: South Korean President Lee Jae-myung emphasized the need for collaboration between South Korea and India to ensure safe passage through the Strait of Hormuz in an interview published on Monday. He also highlighted the importance of joint efforts to stabilize the global supply chain.
In a written interview with the Times of India ahead of his summit discussions with Indian Prime Minister Narendra Modi, Lee noted that the prolonged conflict between the United States and Iran has led to a complete blockade of this crucial shipping route, resulting in rising oil prices worldwide. Additionally, the supply chain for essential industrial materials is facing disruptions.
Lee stated, “Both the Republic of Korea and India rely heavily on the Middle East for a significant portion of their energy supply, including crude oil and natural gas. Therefore, ensuring the security of this vital maritime route is essential for the safety of our people and the existence of our nations.”
He further mentioned that South Korea would work closely with India to diversify the energy supply chain and secure strategic routes, thereby addressing uncertainties in the global economy.
“The Republic of Korea will maintain close communication with India to ensure that all vessels can safely and easily transit the Strait of Hormuz. We will also collaborate on necessary international forums to uphold this shared commitment,” he added.
In an effort to reduce heavy reliance on imported energy and raw materials, Lee expressed hopes for increased cooperation in the essential mineral supply chain.
He remarked, “By moving beyond the traditional model of importing raw materials and integrating Korea’s technology with India’s mining and refining industries, we can establish a stable essential mineral supply chain.”
President Lee also stressed the need to deepen economic ties and enhance cooperation in strategic sectors such as artificial intelligence, defense, and the shipping and shipbuilding industries.
“Besides traditional sectors like electronics and automobiles, we will also enhance collaboration in shipbuilding, finance, and the defense industry,” he concluded.
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