India and South Korea have pledged to boost their bilateral trade to $50 billion by 2030, with a strong focus on renegotiating their existing trade agreement. During South Korean President Lee Jae Myung's visit to New Delhi, both nations agreed to enhance cooperation in strategic sectors, including shipbuilding, artificial intelligence, and defense. Prime Minister Narendra Modi emphasized the establishment of a Korean Industrial Township in India to facilitate the entry of South Korean small and medium enterprises (SMEs). The two countries aim to upgrade the Comprehensive Economic Partnership Agreement (CEPA), originally signed in 2010, to address trade imbalances and enhance service exports. Currently, bilateral trade stands at $27 billion, with India importing approximately $18.5 billion worth of goods from South Korea. Significant agreements were made, including the development of a large shipyard in southern India by HD Korea Shipbuilding and Offshore Engineering. The partnership is expected to foster innovation and stability in the Indo-Pacific region, with both leaders highlighting the importance of cooperation amidst global tensions.