New Delhi, April 24: South Korean President Lee Jae-myung concluded a six-day state visit to India and Vietnam, underscoring Seoul’s strategic push to secure energy supplies and strengthen critical raw material supply chains amid rising global uncertainty linked to Middle East tensions.
The visit comes as disruptions tied to the ongoing conflict involving the United States and Iran intensify concerns over key energy transit routes such as the Strait of Hormuz, a crucial channel for South Korea’s crude oil and industrial feedstock imports.
In New Delhi, Lee held bilateral talks with Prime Minister Narendra Modi, with both sides agreeing to deepen cooperation across critical minerals, energy, artificial intelligence, finance, and shipbuilding. The leaders also committed to expediting the upgrade of the Comprehensive Economic Partnership Agreement (CEPA), targeting a doubling of bilateral trade to $50 billion by 2030.
A total of 15 memorandums of understanding (MoUs) were signed, including initiatives to support shipbuilding collaboration and potential joint development of shipyard infrastructure in India. The engagement highlights India’s growing role as a strategic partner in diversifying South Korea’s supply chains.
In Hanoi, Lee met with President Tô Lâm to advance economic ties spanning energy, infrastructure, and technology. Both nations reaffirmed their target of increasing bilateral trade to $150 billion by 2030, up from $94.6 billion last year, while emphasizing supply chain resilience amid prolonged geopolitical volatility.
Twelve MoUs were signed during the Vietnam leg, including agreements in energy, transportation, and AI. Nuclear energy emerged as a new area of cooperation, with Korea Electric Power Corporation partnering Vietnam’s national energy group on feasibility studies and financing for prospective nuclear projects.
The visit also included meetings with senior Vietnamese leaders, reinforcing Seoul’s broader strategy to expand economic engagement with fast-growing economies in the Global South. The outreach reflects South Korea’s intent to mitigate external risks by diversifying trade, securing resource access, and strengthening industrial partnerships in key emerging markets.
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