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Latest Business News, Business News India Today | The HinduBusinessLine

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PM Modi meets South Korean President Lee Jae Myung, strategic ties in focus
2026-04-20 · via Latest Business News, Business News India Today | The HinduBusinessLine
Prime Minister Narendra Modi held bilateral talks with South Korean President Lee Jae Myung in New Delhi during the latter’s three-day state visit to India, marking a significant step in strengthening the India-South Korea Special Strategic Partnership.

Prime Minister Narendra Modi held bilateral talks with South Korean President Lee Jae Myung in New Delhi during the latter’s three-day state visit to India, marking a significant step in strengthening the India-South Korea Special Strategic Partnership.

Prime Minister Narendra Modi on Monday held a bilateral meeting with South Korean President Lee Jae Myung at the Hyderbad House in the national capital.Both the leaders were also seen planting a tree. Earlier in the day South Korean President Lee, accompanied by his wife Kim Hea-kyung paid tribute to Mahatma Gandhi at Rajghat in the national capital.During the visit, the President and the First Lady laid a wreath at the memorial of Mahatma Gandhi

Ceremonial welcome marks start of high-profile visit

Preceding the visit to Rajghat, the South Korean leader was accorded a ceremonial welcome at the Rashtrapati Bhavan forecourt, marking a significant start to the second day of his high-profile state visit to India.The visiting leader was received by President Droupadi Murmu and Prime Minister Narendra Modi, with the reception featuring a vibrant display of welcome by children dressed in traditional attire, waving the national flags of both India and South Korea.The South Korean President accompanied by First Lady Kim Hea-kyung arrived in the national capital on Sunday for a three-day official tour. They were received at the airport by Union Minister of State for Corporate Affairs Harsh Malhotra.

Visit seen as milestone in India-South Korea ties

Highlighting the diplomatic significance of the visit, the Ministry of External Affairs (MEA) observed that it represents an “important milestone” in advancing the “Special Strategic Partnership” between the two countries.In a social media post on X, the MEA noted: “President Lee was received by Shri Harsh Malhotra, MoS, Ministry of Corporate Affairs and Ministry of Road Transport and Highways. The visit marks an important milestone in advancing the India-South Korea Special Strategic Partnership.”

Concerns over global supply chains and energy security

Meanwhile, in a written interview with The Times of India today, held before his summit talks with Prime Minister Narendra Modi, the South Korean Presiddent noted that the effective closure of the critical shipping route due to the prolonged conflict between the United States and Iran has been driving up global oil prices while also disrupting supply chains for key industrial materials.”Both the Republic of Korea and India depend on the Middle East for a significant share of their energy supplies, including crude oil and natural gas. Accordingly, ensuring the security of critical maritime routes is essential to the safety of our peoples and the very survival of our nations,” Lee said in the interview.

Focus on maritime security and energy diversification

Lee and PM Modi are set to hold a bilateral summit later in the day, which would mark their third in-person meeting since Lee took office last year.Lee said South Korea will collaborate with India on multilateral efforts to ensure safe passage through the strategic route and diversify energy supply chains to address uncertainties in the global economy. “Korea will maintain close communication with India to ensure that all vessels can navigate the Strait of Hormuz safely and freely,” he said. “We will also continue to work together in relevant international forums to uphold this shared commitment” as per the report in the news daily.

Push for critical minerals and strategic sector collaboration

As part of efforts to reduce heavy dependence on imported energy and raw materials, Lee expressed hope to expand cooperation in critical mineral supply chains. “By moving beyond the traditional model of importing raw material and combining Korea’s technology with India’s mining and refining industries, we can work together to establish stable critical-mineral supply chains,” he said in the interview. Lee also stressed the need to step up collaboration in strategic sectors, such as artificial intelligence, defence, and the shipping and shipbuilding industries, to deepen economic ties and create synergy between India and South Korea.

Jaishankar meets Lee ahead of formal talks

Reflecting the immediate start to diplomatic engagements, External Affairs Minister S Jaishankar called on President Lee on Sunday to discuss bilateral ties.Expressing his views on X, the EAM stated he was “honoured to call on President Lee Jae-myung of the Republic of Korea as he begins his State Visit to India.”He further noted that he “values his commitment to deepen India-Korea relations across multiple domains,” while voicing optimism that the upcoming deliberations with PM Modi would “further strengthen our Special Strategic Partnership”.

Wide-ranging agenda for bilateral discussions

Following these preliminary discussions, the South Korean President is scheduled to hold extensive bilateral talks with Prime Minister Modi later today.The agenda is expected to cover a wide array of sectors, including shipbuilding, trade, investments, AI, semiconductors, and critical and emerging technologies, alongside cultural and people-to-people exchanges.The MEA added that the two leaders will also exchange views on regional and global issues of mutual interest.

State banquet and continued diplomatic engagement

After the talks, Prime Minister Modi will host a lunch for the visiting dignitary.Furthermore, President Lee is slated to meet with President Droupadi Murmu, who will host a state banquet in his honour at Rashtrapati Bhavan.Emphasising the shared foundations of the relationship, the MEA said, “India and the ROK share a multifaceted partnership rooted in ancient civilisational ties and shared values of democracy and the rule of law.””The visit of President Lee underscores the shared aspiration of both countries to further strengthen the existing areas of cooperation while expanding collaboration in new and emerging areas of mutual interest.”

High-level engagements continue momentum in ties

This visit follows a year of sustained high-level contact, building on two previous meetings between PM Modi and President Lee in 2025, held on the sidelines of the G20 Summit in Johannesburg and the G7 Summit in Canada.

Published on April 20, 2026