South Korea is pushing for a 'second wave' of investment in India focusing on shipbuilding and defence, moving beyond autos and electronics. Ambassador Lee Seong-ho highlighted shared strategic interests and called India an 'indispensable partner'.
South Korea is looking to deepen its economic and strategic engagement with India, with a fresh push for investments in shipbuilding, defence manufacturing and industrial collaboration, Ambassador Lee Seong-ho said on Monday, underlining New Delhi's growing importance in Seoul's diversification strategy amid shifting global dynamics.
Push for a 'Second Wave' of Investment
In an interview with ANI, the South Korean envoy said the next phase of bilateral cooperation could mark a major shift from the first wave of Korean investments in India during the 1990s, which largely centred around automobiles and electronics. "We need to create a second wave of Korean investment led by shipbuilding and other industrial collaboration. If that happens, automatically the trade will follow suit," Lee said, indicating that broader industrial cooperation would significantly expand bilateral trade.
Shared Strategic Interests
On the strategic front, Ambassador Lee said the recent West Asia crisis has reinforced the shared vulnerabilities of both India and South Korea, particularly in energy security and maritime stability. "The crisis in West Asia is another example of how both Korea and India share many things together. We both depend on energy sources from that region," he said, welcoming the deal between the United States and Iran to end the hostilities in the region and stressing the importance of diversifying energy sources and accelerating the transition to green technologies.
He added that the evolving geopolitical situation makes closer India-South Korea coordination even more important, especially in safeguarding maritime routes and upholding the international order. Calling India an indispensable partner, Lee said South Korea sees New Delhi as central to its long-term economic and strategic diversification. "India's importance in Korea's perspective cannot be emphasised too much," he said, adding that the two countries could evolve from strategic partners into "integral economic partners" in the coming years.
The envoy also highlighted India's role as a leading voice of the Global South, saying South Korea could be a valuable partner in India's efforts to shape emerging global conversations.
Expanding Defence Cooperation
On defence ties, Lee pointed to the K9 Vajra Howitzer programme as a landmark success in bilateral cooperation and revealed that both countries are already exploring a third phase of the partnership. He said discussions are also underway to expand collaboration into air defence guns, missile systems and other advanced defence platforms.
With global supply chains being restructured and regional security concerns intensifying, Lee's remarks signal Seoul's intent to significantly widen its partnership with India, not just as a market but as a strategic pillar in Asia's evolving geopolitical and economic architecture. (ANI)
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