Lee Sung-ho, South Korea's Ambassador to India, predicted that Korea will play a key partnership role in India's shipbuilding industry development strategy. Following the Korea-India summit in April, the two countries agreed to expand cooperation in shipbuilding, shipping, and maritime logistics, raising expectations that economic collaboration could lead to concrete industrial partnerships starting with large shipbuilding projects.
During a forum hosted by the Korea-India Future Association in Seoul on July 21, Ambassador Lee stated, "I believe we will participate as an important partner in India's shipbuilding mission."
The forum, chaired by Shin Bong-gil, former Ambassador to India, focused on India's political and economic environment and future tasks for economic cooperation between the two countries.
Ambassador Lee explained that while India has focused on developing its semiconductor industry, it has recently identified shipbuilding as a core strategic industry. He noted, "The areas that India feels the most need to push forward are the semiconductor mission and the shipbuilding mission, with shipbuilding currently being the most emphasized field."
He added, "India has a long coastline and significant export and import volumes, but it currently lacks the capacity to build large container ships. To change this, India is pursuing a national shipbuilding mission with a target year of 2047."
Ambassador Lee indicated that India views Korea as its most promising partner in this endeavor. He remarked, "India believes that Korea is the country that can best assist them and is actively seeking our cooperation. Fortunately, Korean companies are also showing interest in the shipbuilding sector."
He further stated, "If large shipbuilding projects are realized, they will become signature projects of Korea-India cooperation, potentially opening a second wave of Korean corporate investment following the first wave led by Samsung, LG, Hyundai, and Kia in the 1990s."
Ambassador Lee emphasized that such signature projects would symbolize the strategic closeness between Korea and India and could provide new investment opportunities for small and medium-sized enterprises in Korea that have viewed India with skepticism.
He stressed that future cooperation between the two countries should expand beyond shipbuilding to include sectors such as secondary batteries and strategic manufacturing, which are essential for India's industrial transition.
He stated, "From India's perspective, what is most needed from Korea is economic and strategic investment. If such investments are connected through supply chains, Korea could emerge as a strategic partner on par with Japan and the United States in the 'Make in India' initiative."
These remarks follow the agreement made during the April summit between President Yoon Suk Yeol and Indian Prime Minister Narendra Modi to strengthen cooperation in shipbuilding, shipping, and maritime logistics.
At that time, the two countries agreed to pursue the development of large shipbuilding clusters, construction of shipyards, training of maritime professionals, infrastructure development for ports, and cooperation in supply chains for equipment.
India aims to become a global shipbuilding powerhouse by 2047 through its 'Maritime Amrit Kaal Vision 2047.' The initial key project involves the construction of an eco-friendly large shipyard in the Tuticorin area of Tamil Nadu, with HD Korea Shipbuilding & Offshore Engineering's participation being discussed.
In his speech, Ambassador Lee identified India's rise as one of the most significant changes that Korean diplomacy must strategically respond to. However, he noted that Korea is not yet India's top priority partner.
He assessed, "As of 2026, Korea is considered a second-tier partner from India's perspective. While interest and necessity for Korea have grown, countries like the United States, China, Russia, major European nations, Japan, Australia, Canada, and Singapore still form the top tier."
He added, "The extent to which Korea actively participates in India's 'Viksit Bharat 2047' national vision over the next 20 years will determine our strategic status. Depending on how closely we accompany India on its journey to becoming a developed nation, Korea may have the opportunity to rise to a top-tier country."
Ambassador Lee concluded, "The 20 years from 2026 to 2047 could be the last opportunity for India to strategically need Korea. Korea must approach India more actively, persistently, and strategically than ever before."
* This article has been translated by AI.
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