South Korea and India: A New Era of Cooperation for Maritime Security and Economic Growth

Strengthening Ties for Maritime Security

New Delhi: In a recent interview, President Lee Jae Myung emphasized the importance of collaboration between South Korea and India to secure safe navigation through the Strait of Hormuz. He pointed out that joint efforts are crucial for stabilizing global supply chains.

Before his scheduled summit with Indian Prime Minister Narendra Modi, Lee highlighted how the ongoing tensions between the United States and Iran have led to significant disruptions in this vital shipping lane, causing a spike in global oil prices and affecting the supply of essential industrial materials.

Lee remarked, "Both South Korea and India rely heavily on the Middle East for a large portion of their energy needs, including crude oil and natural gas. Therefore, safeguarding these critical maritime routes is vital for the safety of our citizens and the survival of our nations."

The upcoming bilateral summit marks the third face-to-face meeting between Lee and Modi since the South Korean president assumed office last year.

Lee expressed South Korea's commitment to working with India on multilateral initiatives aimed at ensuring safe passage through this strategic route and diversifying energy supply chains to mitigate global economic uncertainties.

"We will maintain close communication with India to guarantee that all vessels can navigate the Strait of Hormuz safely and freely," he stated. "Additionally, we will continue our collaboration in relevant international forums to uphold this shared commitment."

To lessen reliance on imported energy and raw materials, Lee expressed a desire to enhance cooperation in critical mineral supply chains.

"By moving beyond the conventional model of raw material imports and integrating Korea's technology with India's mining and refining sectors, we can collaboratively establish stable critical-mineral supply chains," he noted.

Furthermore, Lee underscored the necessity of enhancing collaboration in strategic areas such as artificial intelligence, defense, and the shipping and shipbuilding industries to strengthen economic ties and foster synergy between the two nations.

"We aim to expand our cooperation beyond traditional sectors like electronics and automobiles into shipbuilding, finance, and defense," he added.