India and South Korea
Relationship
South Korea has close relationship with four neighbors –
US, Japan, China and Russia.
South Korea wants to establish the same relationship with India under new southern Policy. South Korea ‘s new Investment is moving from China to Vietnam. The country needs to look out for more opportunities, in this case increasing bilateral ties with India would further enhance the economic conditions of both countries.
How will it benefit India?
India has more strategic concern as South Korea has private defense technology. India is one among the biggest importer of arms and needs more help in defense technology. Connecting with South Korea will help in defense technology transfer.
Guidance is required from South Korean Government in various fields which may be better for Indian interest.
South Korea can support the energy need of Indians as it can supply raw material and help in bringing down the unit cost of power plants in power generation. Not only that, Korean companies can be very helpful for supplying nuclear parts for developing more nuclear power plants.
Future strategy is focused more about Artificial Intelligence etc. where the country again can play vital role for India as Korean companies are well occupied to that.
Early Harvest Agreement- --- it gives more advantage to Korea as Korean Companies in marine product and processed food can benefit from India's fishing sectors.
India and Korea can work on cyber security, which remains a global threat.
The component for peace remains 'the nuclear proliferation of North Korea', as India has always been in favor of Reconciliation of North
Korea and South Korea.
We have been concerned with North Korea ----- and its closeness with Pakistan. Forming closer ties in the changing international politics can again benefit India.
How will it benefit South Korea?
India shares close relations with Japan—India gives more relaxation with Japan. South Korea may obtain the relaxation, and certain adavtange as the country(South Korea) was asking for it. India is having huge consumption and big market size which satisfies the ambitions of South Korea.
