External Affairs Minister S. Jaishankar met South Korean Foreign Minister Cho Hyun in Seoul on Wednesday, 24 June, for wide-ranging talks that spanned shipbuilding, trade, investments, defence, technology, clean energy, culture, and people-to-people exchanges. The two ministers also explored emerging opportunities in startups, fintech, and multilateral forums, signalling a broadening of the India–South Korea partnership beyond its traditional industrial base.

Building on the Presidential Momentum

The bilateral meeting comes in the wake of South Korean President Lee Jae-myung's State visit to India in April last year, which Cho Hyun credited as the catalyst for elevating ties to a new level. Both ministers assessed what Cho Hyun described as 'swift progress' on follow-up measures — particularly in trade, investment, and finance — that were agreed upon at last April's summit, and discussed pathways to deepen them further.

Jaishankar noted that the two ministers have met across multiple global venues — New York, Kuala Lumpur, Washington, the G7 Foreign Ministers' Meeting, and during President Lee's India visit — underscoring the high tempo of diplomatic engagement between the two nations.

Korea Week and Reciprocal Business Outreach

Cho Hyun highlighted a concrete deliverable: India's Prime Minister's Office is hosting 'Korea Week' this week, fulfilling a commitment made by Prime Minister Narendra Modi during the summit to directly address challenges faced by South Korean companies operating in India. In turn, Cho Hyun said Seoul would soon convene a similar roundtable for Indian firms seeking to enter the South Korean market — a reciprocal gesture that signals institutional intent on both sides.

Global Headwinds and Shared Strategic Interests

Beyond bilateral trade, the two ministers used a working lunch to discuss what Cho Hyun called the 'rapidly changing global situation.' Both countries agreed to maintain close communication on the economic ripple effects stemming from evolving developments in the Middle East. Jaishankar framed the relationship in broader strategic terms, emphasising the importance of 'like-minded countries with shared values and strong mutual trust' working together in an increasingly complicated world.

He pointed to leadership-level guidance received at the G7 summit in Hiroshima — where Prime Minister Modi met President Lee — as a key reference point for advancing the relationship.

Jeju Forum and What Comes Next

The two ministers are scheduled to meet again at the Jeju Forum on Thursday, where bilateral and global issues are expected to feature prominently. The back-to-back engagements — bilateral talks followed by a multilateral platform — reflect the growing strategic depth India and South Korea are seeking to institutionalise. Industry observers will watch for any formal announcements on the startup and fintech cooperation framework floated during Wednesday's discussions.