India South Korea

Prime Minister Narendra Modi and South Korean President Moon Jae-in pose for a picture ahead of a meeting at Hyderabad House in New Delhi, July 10. (IANS photo)

NEW DELHI — India and South Korea are expanding their business ties with an aim to increase bilateral trade to $50 billion by 2030.

Visiting South Korean President Moon Jae-in and Indian Prime Minister Narendra Modi in New Delhi July 10 asked their business communities to enhance investment and promote joint ventures.

The bilateral trade between the two Asian countries was $20 billion in 2017.

Moon is on a four-day state-visit to India and will travel to Singapore July 11.

The two leaders July 9 traveled in a metro train to Noida, in the outskirts of the India’s capital, and inaugurated a new production facility of Samsung Electronics company.

The phone manufacturing unit is estimated to create more than 2000 jobs in India.

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