South Korean semiconductor companies, such as Samsung Electronics and SK Hynix, are looking to enter the Indian market by initially focusing on software and research and development (R&D) activities. According to Kyunghoon Kim, Head of the India and South Asia Team at the Korea Institute for International Economic Policy, these firms aim to leverage India's large and skilled workforce. While long-term investments in semiconductor manufacturing facilities are expected as India's infrastructure develops, the immediate focus will remain on R&D and software capabilities.

Kim emphasized the potential for collaboration between South Korea and India across various sectors, including shipbuilding and steel. For instance, South Korean shipbuilding companies are exploring partnerships with Indian firms, supported by government initiatives to procure ships worth around $25 billion USD. In the steel sector, collaborations like the one between POSCO and JSW Steel for a new integrated steel plant are underway. Furthermore, South Korea's significant presence in India's electronics manufacturing, with Samsung producing up to 120 million mobile phones annually, highlights the growing economic ties.

Looking ahead, opportunities for cooperation in renewable energy, green hydrogen, biotechnology, and pharmaceuticals are also promising, potentially enhancing India's manufacturing competitiveness and reducing the trade imbalance with South Korea.