Modi's two-day South Korea visit: Of Ayodhya, peace and investments

Modi's two-day South Korea visit: Of Ayodhya, peace and investments Few nations other than South Korea have helped Modi shape a domestic political narrative alongside deepening bilateral ties

Current Affairs: As Prime Minister (PM) Narendra Modi starts his twoday visit to South Korea for a second bilateral summit in less than a year, there is a lot on his and India’s agenda. Tomorrow, Modi will be conferred

the prestigious Seoul Peace Prize 2018 for his contribution to global growth, human development and international cooperation.

Modi joins the league of world leaders like Angela Merkel, Kofi Annan, Ban Ki Moon and Vaclav Havel as recipients of the prize, started in 1990.

Much of the action on the negotiations front will take place tomorrow, when Modi takes forward the agenda set during South Korean President Moon Jae-In’s state visit to India in July 2018. India and South Korea had inked 11 memoranda of understandings (MoUs) during President Moon’s last visit – nine of which related to deepening trade relations, cooperation in the fields of technology, science, telecommunications, infrastructure and boosting investments.

The opening of the world’s largest mobile phone manufacturing factory in Noida by South Korea’s largest chaebol Samsung last year enhanced that nation’s profile in India, but there is still a long way to go in order to boost trade and investment between New Delhi and Seoul.

Trade between the two nations stood at around $21 billion in 2017-18, comprising 2.7 per cent of India’s global trade. While India’s exports to South Korea stood at $4.5 billion, its imports were a little over $16 billion.

India’s imports from...read more

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