During a joint press conference with South Korean President Lee Jae Myung in New Delhi, Prime Minister Narendra Modi announced the establishment of Korean industrial townships in India and set an ambitious target to increase bilateral trade with South Korea from $27 billion to $50 billion by 2030. Modi emphasized the importance of transforming the current partnership into a futuristic one, highlighting shared democratic values and economic principles. To strengthen economic engagement, several initiatives were introduced, including the India-Korea Financial Forum and an Industrial Cooperation Committee. Additionally, both countries exchanged memorandums of understanding to enhance business ties and ease regulations for medium, small, and micro enterprises (MSMEs). Modi also noted the cultural connections between India and South Korea, including the rising popularity of Korean culture in India. This visit marks the first by a South Korean head of state in over eight years, emphasizing the growing importance of this bilateral relationship.