Korean business leaders gather in India to boost partnerships

Apr 21, 2026, 08:30 am

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(From right) Jang In-hwa, POSCO Group chairman; Lee Seong-ho, South Korean Ambassador to India; Koo Kwang-mo, LG Group chairman; Kim Chang-beom, FKI Vice Chair; Euisun Chung, Hyundai Motor Group Executive Chair; Wi Sung-lac, National Security Office chief; Lee Jae-yong, Samsung Electronics chairman; and Cho Hyun, Foreign Minister of South Korea, attend the Korea-India Business Forum held at Bharat Mandapam in Delhi on April 20. / FKI

South Korea and India brought together top business leaders and government officials to discuss future industrial cooperation, resulting in the signing of 20 memorandums of understanding (MOUs) to strengthen economic ties.

The Federation of Korean Industries announced that it hosted the Korea-India Business Forum on April 20 at Bharat Mandapam in Delhi, in conjunction with President Lee Jae-myung’s state visit to India. The event was co-organized with the Confederation of Indian Industry.

Around 600 participants attended, including business leaders and government officials from both countries. Leading Korean conglomerate heads such as Lee Jae-yong, Euisun Chung, and Koo Kwang-mo were present, alongside other major figures from POSCO, HD Hyundai, and Hyosung.

On the Indian side, key business leaders including Anant Goenka, Sudarshan Venu, Karan Adani, Ravikant Ruia, and Rajiv Memani also took part.

The forum focused on cooperation in advanced manufacturing, supply chains, the digital economy, and energy transition—key sectors amid global supply chain restructuring and the rise of India as a “China+1” strategic hub.

A total of 20 MOUs were signed during the event, laying the groundwork for concrete business collaborations and supporting the two countries’ goal of reaching $50 billion in bilateral trade by 2030.

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Ryu Jin, chairman of the Federation of Korean Industries, delivers opening remarks at the Korea-India Business Forum held at Bharat Mandapam in New Delhi, India, on April 20. / FKI

Sector-specific agreements included a joint project between Hyundai Motor Group and TVS Motor Company to develop three-wheeled electric vehicles, and a $7.29 billion integrated steel plant investment by POSCO Holdings and JSW Group.

HD Hyundai plans to develop shipbuilding infrastructure and establish a joint venture in India, while collaborating with the Indian Institute of Technology Madras on smart shipyard technologies.

In energy and digital sectors, GS Engineering & Construction will advance wind power projects with local partners, and Naver will pursue AI and cloud collaboration with Tata Consultancy Services.

Ryu Jin emphasized in his remarks that “about 670 Korean companies operating in India are already key partners, and cooperation should now expand across future industries.”

During the main session, participants explored cooperation strategies in three areas: advanced manufacturing and supply chains, the digital economy, and energy transition.

#Korea #India #business forum #MOU #economic cooperation