Shipping containers at the Busan Port Terminal (BPT) in Busan, South Korea, Friday, September 23, 2022./Bloomberg
Bisnis.comJAKARTA – South Korea plans to strengthen its cooperation with India in line with US-led efforts to diversify the global supply chain outside of China.
South Korean Foreign Minister Park Jin said this was important, especially for economic security.
“In the era of economic security, it is very important to strengthen supply chain and science and technology cooperation with India,” he said, quoted. Bloomberg, Monday (04/10/2023).
Park also said India shares universal values such as democracy which has huge potential for growth and is an important partner for South Korea.
“Companies investing and operating in India must play a vital role in making this happen,” Park told business leaders in Chennai, India.
The delegations of the two countries stressed the importance of promoting stronger human and cultural exchanges between the two countries. It is important to do so to strengthen economic cooperation.
The United States under the Joe Biden administration has also asked for help from allies, including South Korea, to reduce global supply chain dependence on China.
India is also known to have been one of the beneficiaries of the broader supply chain shift. For example, a large company like Apple is increasing its production capacity in the country.
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