President Lee, State Visits to India and Vietnam from 19th to 24th

President Lee Jae-myung's upcoming state visit to India and Vietnam marks a significant diplomatic initiative aimed at bolstering South Korea's economic ties and strategic partnerships in Asia. This trip, spanning from April 19 to 24, underscores the administration's focus on expanding economic horizons beyond traditional markets and deepening engagement with rapidly growing economies.

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India is the world's fourth-largest economy with an annual growth rate of 7%. We will lay the foundation for achieving $50 billion in bilateral trade by 2030 and create new momentum for economic cooperation through new cooperation in strategic fields such as shipbuilding.

In India, President Lee will meet with Prime Minister Narendra Modi, building on the eight-year gap since the last presidential visit. The itinerary includes a wreath-laying ceremony at Mahatma Gandhi's memorial and a summit aimed at laying the groundwork for achieving $50 billion in bilateral trade by 2030. India's status as the world's fourth-largest economy, experiencing robust growth, presents a crucial opportunity for South Korean businesses, particularly in strategic sectors like shipbuilding.

The second leg of the tour takes President Lee to Vietnam, a key partner in Southeast Asia. This visit is particularly noteworthy as it occurs following the establishment of Vietnam's new leadership. The summit with General Secretary and President Tô Lâm is expected to elevate the strategic economic cooperation between the two nations. South Korea aims to leverage this visit to achieve a target of $150 billion in bilateral trade by 2030, focusing on critical areas for Vietnam's national development, including infrastructure and nuclear power.

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President Lee's state visit to Vietnam is the first since the establishment of Vietnam's new leadership. Through this visit, we expect to advance strategic economic cooperation between the two countries.

From a South Korean perspective, these visits are vital for diversifying trade relationships and securing future growth engines. The emphasis on strategic sectors reflects a forward-looking approach to international economic engagement. The administration views these partnerships not just as trade opportunities but as crucial elements in building a stable and prosperous regional order. The success of these diplomatic efforts will be closely watched as indicators of South Korea's evolving role in the global economy.

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We aim to achieve $150 billion in bilateral trade with Vietnam by 2030 and seek to strengthen mutually beneficial and strategic cooperation in key areas of national development such as infrastructure and nuclear power.