Since the turn of the century, and particularly in the last decade, the bilateral economic relationship between India and Korea has developed more rapidly than most. Prime Minister Modi launched the Act East Policy to expand engagements with East Asia. Likewise, South Korean President Moon has announced his signature New Southern Policy initiative and Korea deepened relations with India under three pillars of people, peace and prosperity.
This session will broadly examine both the strengths and challenges found in the bilateral economic engagement. Panelists will discuss a range of issues from the performance of Indian initiatives like Korea Plus to attract ROK investment to assessing improvements in free trade agreements like CEPA. Discussion will also centre around harmonising India’s Look East Policy with South Korea’s New Southern Policy.
Further, the session will touch on the great global transition that is underway. The onset of the COVID-19 pandemic and the escalation of great power rivalry has put global supply chains at risk. How can New Delhi and Seoul work together with allies and partners to construct resilient supply chains? High technology has become a new battleground for competition as cutting-edge technologies like 5G, AI and advanced semiconductor manufacturing have become increasingly politicised. Will Indo-Korean attempts to build mechanisms ranging from a Future Strategy Group to Joint Network Centers for the development of key technologies help both powers become leaders in high technology? Economics competition now seems the order of the day. From CPTPP and RCEP to the upcoming Indo-Pacific Economic Framework, the economic rules of the game are being rewritten. How can New Delhi and Seoul cooperate to carve out a space for themselves in this new trade order? Finally, the onset of climate change will necessitate an unprecedented degree of cooperation between New Delhi and Seoul. How can both sides lay the groundwork for such a partnership?
10:00 – 10:05 a.m. | Opening Remarks | Samir Saran
10:05 – 10:20 a.m. | Ministerial Address | H.E Han-koo Yeo
10:20 – 11:25 a.m. | Presentation and Discussion | Shamika Ravi, Anil Wadhwa, Hyou-Young Lee
11:25 – 11:30 a.m. | Closing Remarks | Harsh V. Pant
