Seoul: India and South Korea held a high-level joint forum in early April to strengthen bilateral trade and investment ties, according to South Korea’s Ministry of Trade, Industry and Energy. Hosted in Seoul and co-organized by the ministry and the Embassy of India, the forum focused on expanding cooperation in key future industries such as advanced manufacturing and renewable energy. The dialogue marked a continued effort under the special strategic partnership that the two nations established in 2015.

Despite the potential for deeper engagement, officials acknowledged that actual progress in trade has been modest. “The two countries have seen limited performance compared to their potential for cooperation,” said Kim Jong-chul, Director General for International Trade Relations. “South Korea will work to promote more tangible cooperation with India this year.”

Indian Ambassador to South Korea, Amit Kumar, echoed this sentiment, calling for a “sustainable partnership” that leverages the economic complementarities and strategic interests shared by both countries.

The timing of the forum was particularly notable, taking place just one day after the U.S. administration announced new country-specific tariffs—25% on South Korea and 27% on India—raising global concerns about a potential trade war.

In a significant development tied to defense cooperation, South Korean defense major Hanwha Aerospace has signed a ?371.4 billion (USD 253.6 million) deal to supply K9 self-propelled howitzers to the Indian Army by September 2030. The agreement will be executed in partnership with India’s Larsen & Toubro, supporting India’s military modernization initiative.

This contract follows a 2017 deal in which Hanwha delivered K9 howitzers worth ?372.7 billion to India. Hanwha stated that the new order reaffirms the system’s proven reliability in meeting India’s operational demands.