Strengthening Bilateral Ties: President Lee Jae-myung’s Visit to India
New Delhi: South Korean President Lee Jae-myung’s inaugural state visit to India from April 19 to 21, 2026, marks a significant milestone in the evolving partnership between the two nations. This visit comes eight years after the last state visit by President Moon Jae-in in 2018 and aims to enhance cooperation in various sectors, including shipbuilding, artificial intelligence (AI), defense, and critical technologies. The discussions are geared towards achieving a bilateral trade target of USD 50 billion by 2030, building on the existing trade volume of USD 25.1 billion recorded in 2024.
The strategic partnership between India and South Korea has been gaining momentum, bolstered by structured defense engagements and economic collaborations. The groundwork for this visit was laid during a meeting between Prime Minister Narendra Modi and President Lee at the G7 Summit in Canada in June 2025. They agreed to strengthen ties in commerce, investment, technology, and shipbuilding. A recent Foreign Policy and Security Dialogue held in Seoul in February 2026 reviewed the full spectrum of bilateral relations, setting the stage for this visit, which is expected to open new avenues for collaboration.
Shipbuilding Cooperation: A Key Focus Area
Shipbuilding stands out as a prime example of the complementary strengths of India and South Korea. South Korea holds a commanding 40 percent share of the global shipbuilding market, with major players like HD Hyundai and Hanwha Ocean leading the industry. Meanwhile, India is striving to establish itself as a global maritime hub, as highlighted during the five-day India Maritime Week (IMW) 2025 held in Mumbai.
Several initiatives are already in progress to enhance shipbuilding cooperation. In September 2025, Cochin Shipyard Limited (CSL) entered a long-term Memorandum of Understanding (MoU) with HD Korea Shipbuilding and Offshore Engineering to co-build large tankers, containers, and bulk carriers. Additionally, HD Hyundai plans to invest USD 4 billion in a new shipyard in Tamil Nadu, which will have the capacity to produce between 3.5 to 4 million gross tons annually. To support these efforts, India’s Ministry of Ports, Shipping and Waterways has signed a Plan of Implementation with the Korea International Cooperation Agency to focus on workforce planning, advanced training, and the establishment of a Shipbuilding Workforce Development and Technology Cooperation Centre. This collaboration is crucial for India’s ambition to serve its own fleet and export “Made in India” vessels globally by 2047.
Advancing Defense and AI Collaboration
Defense cooperation is another cornerstone of the India-South Korea relationship. Both nations are increasingly focusing on co-production and technology transfer rather than simple procurement. However, progress in warship construction has been slow since the early 1990s. The Indian Navy’s past acquisitions included seven Offshore Patrol Vessels (OPVs), with three built in South Korea and the remaining four constructed in India. Recent attempts at collaboration, such as the construction of Fleet Support Ships and Mine Countermeasure Vessels, faced challenges, but the recent MoU between HD Hyundai Heavy Industries and CSL to construct amphibious ships for the Indian Navy could pave the way for more successful partnerships.
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In the realm of artificial intelligence, India and South Korea are deepening their collaboration, driven by shared strategic interests. A South Korea-India economic cooperation conference held in February 2026 explored ways to expand cooperation in AI and supply chains. The India AI Impact Summit 2026 featured discussions on joint initiatives, leveraging South Korea’s strengths in semiconductors and digital infrastructure. This partnership aims to enhance AI-enabled defense systems, potentially redefining the strategic landscape of their collaboration.
As both nations navigate global disruptions, including energy supply chain instability, President Lee’s visit signifies a commitment to deepen their Special Strategic Partnership. This collaboration aims to create an industrial partnership that can withstand the challenges of an uncertain world, reinforcing the ties between these two technologically advanced democracies.
