India and South Korea signs 7 Memorandum of Understanding

The key areas are Cross border security, Infrastructure and Trade and Energy

• India and South Korea signed seven agreements to enhance cooperation in key areas, including infrastructure development, media, start-ups and combating trans-border and international crime.
• The main focus is on strengthening the ties between the two countries with regards to the strategic developments. This will boost bilateral cooperation in defense production, a roadmap has been agreed to by the two sides on defense technology and co-production.
• The pacts have been signed by the cooperation of combination of India’s Act East Policy and South Korea’s New Southern Policy is giving a platform to strengthen the special strategic partnership between the two countries.

Details of the MOUs singed between India and South Korea

• An MoU was signed between Korean National Police Agency and the Ministry of Home Affairs to enhance cooperation between the law enforcement agencies of the two countries and combat trans-border and international crimes.
• Another agreement was signed for releasing a joint stamp, commemorating Princess Suriratna (Queen Hur Hwang-ok), a legendary Princess of Ayodhya, who went to Korea in AD 48 and married King Kim-Suro. A large number of Koreans trace their ancestry to the princess.
• An agreement of MOU to continue operations of Korea Plus organization that facilitates investments by Korean companies in India. The two countries will promote collaboration among start-ups and set up a Korea Start-up Centre (KSC) in India to commercialize ideas, technologies and designs of start-up companies.
• MoU was signed between the National Highways Authority of India and Korea Expressway Corporation to promote bilateral cooperation in road and transport infrastructure development projects of India, and facilitate technical and institutional knowledge exchange in the field of road and transport.
• An MOU to continue operations of Korea Plus- an organization that facilitates investments by Korean companies in India. Korea Plus was established for operation in June 2016 and comprises representatives from the Ministry of Industry, Trade and Energy of South Korea, Korea Trade Investment and Promotion Agency (KOTRA) and Invest India.
• An MOU has been made to facilitate the broadcast of DD India Channel in South Korea and KBS World Channel in India.
• An MOU to promote bilateral cooperation in road and transport infrastructure development projects of India, and facilitate technical and institutional knowledge exchange in the field of road and transport.

The defense progress between India and South Korea

• The defense sector is an important part of our growing partnership with South Korea. An example of this is the induction of K-9 Vajra artillery guns in the Indian Army.
• The first batch of South Korean-made K-9 self-propelled howitzers was delivered to the Army in 2018.
• The induction of 100 long-range guns is expected to be completed by November 2020.

India’s East India Policy and South Korea’s New Southern Policy

I. India’s East India Policy

• It focuses on the extended neighborhood in the Asia-Pacific region. The policy which was originally conceived as an economic initiative, has gained political, strategic and cultural dimensions including establishment of institutional mechanisms for dialogue and cooperation.
• Under this policy India has upgraded its relations to strategic partnership with Indonesia, Vietnam, Malaysia, Japan, Republic of Korea (ROK), Australia, Singapore and Association of Southeast Asian Nations (ASEAN) and forged close ties with all countries in the Asia-Pacific region.
• Further, apart from ASEAN, ASEAN Regional Forum (ARF) and East Asia Summit (EAS), India has also been actively engaged in regional for such as Bay of Bengal Initiative for Multi- Sectoral Technical and Economic Cooperation (BIMSTEC), Asia Cooperation Dialogue (ACD), Mekong Ganga Cooperation (MGC) and Indian Ocean Rim Association (IORA).

II. South Korea’s New Southern Policy

• New Southern Policy’ means for South Korea’s development of its relations with Southeast Asia and ASEAN.
• It aims at reducing South Korea’s reliance on the United States, China, Japan and Russia by expanding ties with South-east Asian nations and India.
• The vision stands on the guiding principles of “3P” which is building a community of people, prosperity and peace.

Pic courtesy:Dailyhunt