Korea-India Launch First 'Economic Security Dialogue'... Expand Cooperation in Shipbuilding, Critical Minerals and AI

Follow-up to April summit... First meeting held in Seoul
Discuss joint responses on supply chain resilience and energy security
Expand strategic cooperation to include space and advanced technologies

South Korea and India have formally launched an economic security consultative body to strengthen supply chain resilience and cooperation in advanced technologies. The two countries aim to expand cooperation from shipbuilding and energy resources to critical minerals, artificial intelligence (AI) and the space industry, and jointly respond to changes in the global economic security environment.

South Korea and India officially launched an economic security consultative body in Seoul on the 2nd to strengthen supply chain stability and cooperation in advanced technologies.

The National Security Office at Cheong Wa Dae said it held the first Korea-India Economic Security Dialogue in Seoul on November 2. Song Ki-ho, Third Deputy Director of the National Security Office, represented South Korea as chief delegate, while Pavan Kapoor, India’s Deputy National Security Adviser, led the Indian delegation.

The meeting was a follow-up measure to flesh out plans for economic security cooperation agreed upon at the summit between President Lee Jae-myung and Indian Prime Minister Narendra Modi on April 20.

At the time, the two leaders adopted the “Joint Strategic Vision for the Special Strategic Partnership between Korea and India” and agreed to strengthen supply chain resilience, diversify markets and promote cooperation in advanced technologies based on mutual strategic trust. They also agreed to launch the Economic Security Dialogue as an intergovernmental channel for consultation.

The meeting focused on ways to reduce uncertainty in global supply chains and expand the two countries’ foundations for cooperation in key strategic industries. In particular, discussions focused on identifying tangible opportunities for cooperation in shipbuilding and energy resources and fleshing out ways to implement agreements previously reached by the two leaders.

In April, on the occasion of the summit, the two countries issued the “Joint Statement on Energy Resource Security” and the “Comprehensive Framework for Partnership in Shipbuilding, Shipping and Maritime Logistics.” The Economic Security Dialogue provides a forum for consultation to turn these plans for cooperation into concrete projects and coordinated policies.

The two countries also agreed to broaden the scope of cooperation. In addition to shipbuilding and energy, they plan to strengthen collaboration in advanced industries such as space, as well as in critical minerals and other key strategic industries, including AI.

The launch of the consultative body is seen as laying the groundwork for the two countries to expand economic cooperation beyond trade and investment into strategic collaboration encompassing supply chains, technology and industrial security. In particular, as diversifying critical mineral supply chains and securing competitiveness in advanced industries have emerged as economic security priorities for major countries, closer cooperation with India is significant for South Korea’s supply chain stability and the diversification of its economic partnerships.

The National Security Office said it would continue to foster cooperation following the launch of the Economic Security Dialogue, with the aim of developing South Korea and India into optimal partners for promoting mutual growth and innovation amid global uncertainty.

This content was produced with the assistance of AI translation services.