1. A New Horizon for the Korea-India Strategic and Sustainable Partnership under Korea's New Southern Policy
- Author:
- Choong Yong Ahn
- Publication Date:
- 03-2020
- Content Type:
- Working Paper
- Institution:
- Korea Economic Institute of America (KEI)
- Abstract:
- India and South Korea, Asia’s third- and fourth-largest economies, respectively, established a Comprehensive Economic Partnership Agreement (CEPA) in 2010 and upgraded their relationship to a special strategic partnership in 2015. South Korean President Moon Jae-in’s “New Southern” policy and Indian Prime Minister Narendra Modi’s “Act East” policy share important objectives and values through which Korea and India can maximize their potential to pursue high tech-oriented, win-win growth. Both countries face the great challenge of diversifying their economic partners in their respective geo-economic domains amid newly emerging international geo-economic dynamics as well as rapidly changing Fourth Industrial Revolution technologies. Given the two countries’ excessive dependence on the Chinese market and potential risks and uncertainties involved in the U.S.-China trade war and related security conflicts, South Korea and India need to deepen bilateral linkages in trade, investment, and cultural contacts. South Korea-India cooperation is crucial in promoting plurilateralism, prosperity, and harmony in East Asia. This paper suggests a specific action agenda to fulfill mutual commitments as entailed in the “Special Strategic Partnership” between these two like-minded countries of South Korea and India.
- Topic:
- International Relations, Foreign Policy, Science and Technology, Bilateral Relations, and Industry
- Political Geography:
- United States, China, South Asia, India, Asia, South Korea, and Korea