India and South Korea relations

In 2013, India and South Korea marked the 40th anniversary of diplomatic ties. In 2014 nine pacts were signed between the two, including the Agreement on the Protection of Classified Military Information, the MoU on Joint applied research, the conclusion of negotiations for revision of the existing Double Taxation Avoidance Convention, etc. Over the years, the relationship has witnessed tremendous growth in the economic sector, Comprehensive Economic Partnership Agreement took effect from January 1, 2010. But the level of bilateral trade, estimated at $17 billion, still far below its potential of $40 billion, which both countries have targeted. FDI inflows from Korea indicate a somewhat upward trend on an average during the last five years although there is no sharp surge or any significant entry of new players or a strong interest shown by Korean SMEs. Prime Minister Narendra Modi paid a State Visit to the Republic of Korea (ROK) at the invitation of H.E. Mme. Park Geun-hye, President of the Republic of Korea (ROK) on May 18–19, 2015. The two leaders agreed to work together to find complementarities between Northeast Asia Peace and Cooperation Initiative (NAPCI) and Act East Policy to achieve shared goals.