South Korean President Moon Jae-in - Limitless possibilities for economic cooperation between us

South Korean President Moon Jae-in is in India for a three-day visit. He explains the agenda of the bilateral engagement and expectations from it to Indrani Bagchi.

by Indrani Bagchi


What significance does India have in Korea's New Southern Policy? 


I want to say India is a very special country for me. I visited India about 20 years ago for the first time in my life, and I have been looking forward to visiting again. There, I learned how nature, people and civilisations could be harmonised with each other peacefully, and I also discovered the potential of boundless imagination to unlock the future. I am very pleased to visit India again this time.

I attach immense importance to cooperation with India and other South Asian countries. For this reason, I sent special envoys to India and ASEAN immediately after I took office last year—the first time in Korean history—demonstrating my strong expectations and aspiration. The vision of the New Southern Policy is all about establishing a future partnership with South Asian countries for the sake of people, mutual prosperity and peace. Among them, India is a key partner for Korea.

Prime Minister Modi has highlighted the importance of cooperation with Korea in the process of implementing India's Act East Policy. As Prime Minister Modi and I are actively working toward regional peace and prosperity as well as the development of bilateral relations, even greater achievements are forecast in the foreseeable future.


India is playing a greater role in the Indo-Pacific region. How can Korea work together with India?


The geographical importance of the Indo-Pacific region, covering both Korea and India, is increasing day by day, and opportunities and challenges are rising at the same time. Many countries, including the United States, Japan and Australia, have shown keen interest in the region and continue to discuss ways to promote regional peace, stability and prosperity.

India and Korea are expanding the horizon of cooperation with countries in the region through the Act East Policy and the New Southern Policy, respectively. I hope that our two countries will pursue harmonious and mutually beneficial cooperation with nations in the region with openness and inclusiveness going forward. I expect India and Korea will effectively manage regional crises and challenges together and take advantage of opportunities that arise. Stronger bilateral cooperation will greatly contribute to peaceful coexistence and mutual prosperity in the region.


What is your roadmap for peace in the Korean peninsula, following the two inter-Korean summits and the North Korea-US summit?


Mahatma Gandhi once said, "There is no way to peace; peace is the way." The Korean people and I have a firm stance that there must not be another war on the Korean Peninsula. Building upon the peaceful resolution of the North Korean nuclear issue, peace regime and mutual prosperity on the Korean Peninsula, I intend to establish a permanent peace.

Thanks to the support and cooperation of the international community, including India, heads of state from South and North Korea and the United States confirmed their common determination for complete denuclearisation and the establishment of permanent peace. Now the task given to us is to fully implement the agreements made at the inter-Korean summits and the North Korea-US summit as soon as possible. Through candid talks and well-intentioned measures, we will unwaveringly seek to carry out the process for peace on the Korean Peninsula. Peace initiated on the Korean Peninsula will greatly contribute to peace and prosperity in South Asia.


What are the prospects for India-Korea economic relations, and which sectors should we focus on?

There are limitless possibilities for economic cooperation between our two countries. India is equipped with cutting-edge science and technology as well as excellent human resources. It also has industrial production capabilities and a vast market. If these are combined with Korea's applied technologies, experience and capital, it will be possible to expedite complementary and mutually beneficial economic cooperation. I look forward to more expanded cooperation in such fields as manufacturing, infrastructure and state-of-the-art industries.


How do Korean businesses view India as a consumer market and a production base?


Korean businesses started investing in India in the 1990s. As of now, about 500 Korean businesses are operating in the country, and Samsung mobile phones, LG home appliances and Hyundai automobiles have become familiar to the people of India. During this visit, I am planning to attend the completion ceremony for Samsung Electronics' manufacturing plant in Noida, India. Many Korean businesses have high expectations and interest in the Indian market of 1.25 billion people.

Korean start-ups and small and medium-sized enterprises are paying attention to the country's advanced IT and abundant high-calibre talent. They are pursuing partnerships with the Indian side to advance into the global market. I hope bilateral trade and investments will be further promoted by upgrading the Comprehensive Economic Partnership Agreement (CEPA).


Can Korea and India cooperate to usher in the Industrial Revolution 4.0?


I hope we will be able to create future growth engines together, thus taking the lead in the Fourth Industrial Revolution. If our two countries work closely together by making the most of our respective strengths, the challenge will become an opportunity. India is young and dynamic; many young people excel in basic science and software development. Meanwhile, Korea has advanced manufacturing and commercialisation technologies.