Ministry of Trade Industry and Resources

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) attended the Korea–India Economic Cooperation Conference on February 20, 2026, at the Lotte Hotel in 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 production base and key supply chain hub, backed by its vast domestic market and annual growth of 6 to 7 percent.

The event brought together approximately 200 participants—including Gourangalal Das, Ambassador of India to the Republic of Korea, and Shri Rajat Kumar Saini, CEO of the National Industrial Corridor Development Corporation of India (NICDC), along with officials and representatives from companies and institutions—highlighting 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 young and sizable 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 successfully entered the Indian market in advanced industries, consumer goods, and content shared their on-the-ground experience and major outcomes. The Indian government presented its 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 strengthening Korea–India strategic cooperation and agreed that closer government–industry–research collaboration is needed to maximize synergies in areas where the two countries have complementary strengths, including AI, advanced industries, and the aerospace sector.

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 central New Southern 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 $25.0 billion, compared with around $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 conclude 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.”