President Lee Jae-myung held a summit with Indian Prime Minister Narendra Modi in New Delhi on April 20, agreeing to double bilateral trade to $50 billion by 2030 and cooperate on energy supply chains amid Middle East tensions. The leaders confirmed resuming CEPA upgrade talks and signing MoUs in shipbuilding, AI and other areas. A selfie taken by Samsung Chairman Lee Jae-yong with a Galaxy Z Flip7 during the event went viral.
President Lee Jae-myung met Indian Prime Minister Narendra Modi in New Delhi on April 20 for a summit, sharing the view that South Korea and India are "optimal partners" for their national visions. National Security Adviser Wi Sung-lac said the talks referenced Korea's 2026 national leap vision and India's Viksit Bharat 2047. The leaders agreed to expand trade and investment in critical minerals, energy, AI, finance and shipbuilding, resuming CEPA upgrade negotiations this year with a goal of $50 billion in bilateral trade by 2030.
During a state luncheon hosted by Modi at Hyderabad House, Lee, Modi and Samsung Electronics Executive Chairman Lee Jae-yong posed for a selfie using a Galaxy Z Flip7 produced at Samsung's Noida factory in India. The photo, shared by Cheong Wa Dae, quickly went viral on social media. It contrasted with Lee's earlier use of a Xiaomi phone gifted by Chinese President Xi Jinping in January, which had sparked domestic criticism over national tech pride.
At a business forum attended by executives like Hyundai's Euisun Chung and LG's Koo Kwang-mo, POSCO Holdings and JSW Steel signed a 10.7 trillion won ($7.3 billion) joint venture for a 6 million-ton steel plant in Odisha by 2031. Naver and Tata Consultancy Services inked an MOU for AI and digital opportunities, while others covered wind power, electric vehicles and smart shipyards. Around 20 MOUs were signed, and both sides agreed to set up a "Korea desk" and a ministerial industrial cooperation committee.
Amid the Middle East war closing the Strait of Hormuz, the leaders pledged to stabilize energy supplies including naphtha. Lee said, "Restoring peace and stability in the region is critical to global security and the economy." Lee invited Modi to visit Korea, and will proceed to Vietnam next.
