India-South Korea completes 50 years of diplomatic relations
Recently India-South Korea has completed 50 years of diplomatic relations.
Relations between the two countries began in 1962 with bilateral consular relations. Later in 1973, it was upgraded to Diplomatic-Relations (Ambassador-level).
Major areas of participation-
The two countries signed a strategic partnership in 2010. This partnership was upgraded to ‘Special Strategic Partnership’ in 2015. Defense cooperation is at the heart of this partnership.
Economic Relations:
- The Comprehensive Economic Partnership Agreement (CEPA) between the two countries came into force on January 1, 2010.
- In the year 2011, a civil nuclear energy cooperation agreement was concluded between the two countries.
- In the year 2022, trade between the two countries had reached an all-time high of $27.8 billion. A target has been set to reach it to $50 billion by the year 2030.
- The ‘Korea Plus’ initiative has been launched to promote and facilitate Korean investments in India.
Cultural Relations:
- India and the Republic of Korea are culturally and kinship linked through Buddhism.
- According to the “Samguk Yusa”, written in the 13th century, a princess from Ayodhya married King Kim-suro of the Gaya Confederacy in Korea and became Queen Hur (hyeo) Wang-ok in 48 AD.
Source – PIB