{"id":9532,"date":"2020-08-14T18:28:02","date_gmt":"2020-08-14T12:58:02","guid":{"rendered":"https:\/\/triumphias.com\/blog\/?p=9532"},"modified":"2023-04-07T13:26:25","modified_gmt":"2023-04-07T07:56:25","slug":"india-south-korea-relation","status":"publish","type":"post","link":"https:\/\/triumphias.com\/blog\/india-south-korea-relation\/","title":{"rendered":"INDIA-SOUTH KOREA RELATION"},"content":{"rendered":"<h1><strong>INDIA-SOUTH KOREA RELATION<\/strong><\/h1>\n<p><span style=\"color: #0000ff;\"><strong>Relevance: Mains: G.S paper II: Polity: International Relations<\/strong><\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/thearabweekly.com\/sites\/default\/files\/styles\/article_image_800x450_\/public\/2019-05\/Iran_map_AFP.jpg?itok=gGHUPrAZ\" alt=\"US sanctions on Iran to affect Turkey, India most || AW\" \/><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Introduction<\/strong><\/span><\/p>\n<p><strong>India-South Korea relations<\/strong>\u00a0have made rapid strides in recent years. With the convergence of India\u2019s\u00a0<strong><span style=\"color: #ff0000;\">Act East Policy (AEP<\/span>)<\/strong>\u00a0and South Korea\u2019s\u00a0<strong>New Southern Policy (NSP)<\/strong>, there has been an acceleration of economic and strategic relations between the two countries.<\/p>\n<p>Relations between both nations have made great stride in the recent past and have now become multidimensional owing to mutual good will , high level exchanges and convergence of interests.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/02\/india-east-act-map-01152020.png\" alt=\"Act East Policy | TriumphIAS\" \/><\/p>\n<p><span style=\"color: #0000ff;\"><strong>India is among 10 trade partners of South Korea and 6th largest destination for Korean goods.<\/strong><\/span>\u00a0Korean investments in India have reached a cumulative figure of almost 6 billion dollars.\u00a0<strong>While India has Act East Policy, South Korea has its New Southern Policy which focusses on strengthening it\u2019s economic and strategic relations with Southeast Asia and India.<\/strong><\/p>\n<p><span style=\"color: #ff0000;\"><strong><u>The Vision of the New Southern Policy<\/u><\/strong><\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/reconasia-production.s3.amazonaws.com\/media\/filer_public\/0d\/3f\/0d3fceaf-c5cc-4cd6-ba0b-4ef70fdaf70f\/south_korea_competingvisions_final.jpg\" alt=\"South Korea's Infrastructure Vision | Reconnecting Asia\" \/><\/p>\n<ul>\n<li><strong>The Korean government\u2019s New Southern Policy aims to cultivate its relations with ASEAN and India as key partners in the southern region<\/strong>, raise this partnership to the level of Korea\u2019s traditional four major diplomatic partners (the U.S., China, Japan, Russia), develop values that can be empathized with others, and build a mutually prosperous \u201cpeople centered\u201d community.<\/li>\n<li>The New Southern Policy aims to form a multilateral economic and diplomatic framework to adjust to the U.S.\u2019s priority on domestic concerns, which has been in full swing since the inauguration of the Trump administration, and to the expansion of China\u2019s influence across East Asia.<\/li>\n<li>The New Southern Policy\u00a0<strong>emphasizes the so-called \u201c3P community,\u201d which stands for a community of People, Prosperity and Peace<\/strong>.<\/li>\n<\/ul>\n<p><span style=\"color: #ff0000;\"><strong><u>Bilateral relations:<\/u><\/strong><\/span><\/p>\n<ul>\n<li>Bilateral relations between India and South Korea, officially known as the Republic of Korea, were established in 1962 and upgraded to Ambassador-level in 1973.<\/li>\n<li>South Korea\u2019s open market policies found resonance with India\u2019s economic liberalization, and its \u2018look east policy\u2019 and \u2018act east policy\u2019.<\/li>\n<li>The relations has become truly multidimensional, spurred by a significant convergence of interests, mutual goodwill and high level exchanges.<\/li>\n<li>During PM Modi\u2019s visit to ROK in May 2015, the sides elevated the ties to \u2018Special Strategic Partnership\u2019.<\/li>\n<li>President Moon\u2019s India visit marked the 45<sup>th<\/sup>\u00a0anniversary of bilateral diplomatic ties.<\/li>\n<li>Cooperate with India in areas like the\u00a0<strong>Indian ocean region<\/strong><\/li>\n<li>This kind of\u00a0<strong>bond between the two countries strengthens bilateral cooperation.<\/strong><\/li>\n<\/ul>\n<p><span style=\"color: #ff0000;\"><strong><u>Why India is important for South-Korea?<\/u><\/strong><\/span><\/p>\n<ul>\n<li>One of the points that the Koreans have been making to India is that they see India as a country that is\u00a0<strong>now strategically important to them<\/strong><\/li>\n<li><strong>South Korea also finds in India a very acceptable partner<\/strong>.<\/li>\n<li>India doesn\u2019t have edges which can create problems for them. They are aware of one factor which they have grown up with, which is the Pakistan factor.<\/li>\n<li>With new issues cropping up in ties with China and America, export-driven South Korea must find new markets.<\/li>\n<li>South Korea\u2019s economic growth has slowed, presenting it with important challenges.<\/li>\n<li>South Korea is targeting economies with the greatest growth potential like India.<\/li>\n<li>South Korea is too heavily dependent on China\u2019s market. So diversification is essential for South Korea.<\/li>\n<li>Moon sees India as central to NSP\u2019s success.<\/li>\n<li>Need cooperation for development in third countries, like capacity building programmes in Afghanistan.<\/li>\n<\/ul>\n<p><span style=\"color: #ff0000;\"><strong><u>Commercial relations:<\/u><\/strong><\/span><\/p>\n<ul>\n<li>Very strong trade and investment relationship between India and South Korea.<\/li>\n<li>Modi personally inaugurated the Samsung factory in Noida, which will be one of the largest electronic manufacturing plants in the country.<\/li>\n<li>The economic imperatives are very strong between India and South Korea. Both India and South Korea have not been able to realize their potential till now.<\/li>\n<li>Economic engagement constitutes the core of our<\/li>\n<li>Trade and economic relations between India and South Korea gathered momentum after the implementation of CEPA in 2010.<\/li>\n<li>A civil nuclear cooperation agreement was signed in 2011.<\/li>\n<li>Korean majors like Samsung, LG, Hyundai and Kia have invested over $5 billion in India.<\/li>\n<li><strong>From an Indian perspective, it is important to note that India has been deficient in the production of core technologies.<\/strong>\u00a0We have been good in services, however, we have been lacking in core technologies. However, if we were to cooperate with South Korea, and if we move in a particular direction, there is definitely space for both to work<\/li>\n<\/ul>\n<p><span style=\"color: #ff0000;\"><strong><u>What are the Concerns?<\/u><\/strong><\/span><\/p>\n<ul>\n<li>Both India and South Korea are\u00a0<strong>concerned about China\u2019s rise<\/strong>, especially when China becomes assertive.<\/li>\n<li>Both are increasingly\u00a0<strong>worried about Chinese electronic presence in India.<\/strong><\/li>\n<li>There are some\u00a0<strong>basic problems which the leaders of India and South Korea would have to tackle. This is also related to the trust between the businesses of India and the businesses of South Korea.<\/strong><\/li>\n<li>the trust level between the business community of the two countries isn\u2019t at the level where it should be.<\/li>\n<li>Despite the formal announcement of a strategic partnership a decade ago, Delhi and Seoul have struggled to impart some real content into it.<\/li>\n<li>For India, which has begun to adopt the notion of an Indo-Pacific, Korea has not been at top of its regional priorities in Asia.<\/li>\n<li>Prosperity brought by globalisation to Asia over the recent decades is under stress.<\/li>\n<li>India has also been\u00a0<strong>complaining about a 50 billion USD trade deficit.<\/strong><\/li>\n<\/ul>\n<p><span style=\"color: #ff0000;\"><strong><u>Way Forward:<\/u><\/strong><\/span><\/p>\n<ul>\n<li>India and South Korea should\u00a0<strong>regularize their summit meetings<\/strong>\u00a0and that they meet more frequently at the highest level. This will give directions to the business and industry in each country to work together.<\/li>\n<li>South Korea is the most technologically advanced nation in Asia after Japan. Therefore,\u00a0<strong>bringing them Japan on board would be an absolute boost to India\u2019s ability<\/strong>\u00a0to become a more powerful nation.<\/li>\n<li>There is an urgent need to strengthen\u00a0<strong>economic partnership.<\/strong>\u00a0As a trade war unfolds between US and China,\u00a0<strong>Delhi and Seoul<\/strong>\u00a0need to liberalise their own bilateral trade relations.<\/li>\n<li>India would need to work with South Korea on new generation technologies and core technologies, while at the same time consolidating the existing relationship.<\/li>\n<li>The two sides also need to focus on\u00a0<strong>expanding bilateral security and defence cooperation\u00a0<\/strong>and working together with other countries to\u00a0<strong>promote a stable Asian balance<\/strong>\u00a0of power system.<\/li>\n<li>Delhi and Seoul should focus on\u00a0<strong>building flexible middle power coalitions<\/strong>\u00a0in Asia to limit the impact of the current volatility in the relations between US and China.<\/li>\n<li>The business community of both countries must leverage opportunities arising from complementarities between the two economies\u00a0<strong>to enhance investment<\/strong>, to promote joint ventures, and to work towards the\u00a0<strong>goal of raising bilateral trade to $50 billion by 2030\u2033.<\/strong><\/li>\n<li>At a time when U.S. foreign policy is capricious and unpredictable, and China\u2019s is making purposeful moves towards global domination, it is important that the South Korea-India partnership grows and consolidates, to\u00a0<strong>contribute to stability in the region.<\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>INDIA-SOUTH KOREA RELATION Relevance: Mains: G.S paper II: Polity: International Relations Introduction India-South Korea relations\u00a0have made rapid strides in recent<\/p>\n","protected":false},"author":1,"featured_media":3530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[123,18],"tags":[2479,2481,174,2484,2482,1696,2485,175,2480,2478,2483,2487,130,2486,392],"class_list":["post-9532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","category-general-studies-ii","tag-act-east-policy","tag-bilateral-relations","tag-china","tag-commercial-relations","tag-economic-relations","tag-india","tag-indo-pacific","tag-japan","tag-new-southern-policy","tag-south-korea","tag-strategic-relations","tag-summit-meetings","tag-technology","tag-trade-deficit","tag-union-public-service-commission-upsc"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/9532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/comments?post=9532"}],"version-history":[{"count":3,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/9532\/revisions"}],"predecessor-version":[{"id":13688,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/9532\/revisions\/13688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/media\/3530"}],"wp:attachment":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/media?parent=9532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/categories?post=9532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/tags?post=9532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}