India-South Korea Relations

The Political Economy of South Korea’s Arms Trade with India: Challenges and Prospects

South Korea’s rapid rise as a manufacturing powerhouse and a leading export-oriented economy was made possible due to the active role of the ‘developmental state’ in the country. Despite adopting several neoliberal policies after the devastating Asian financial crisis of 1997, the South Korean state did not fully abandon its role in the country’s economic development. In recent years, selling of military hardware has emerged as one of the ‘new engines of economic growth’ for this export-oriented nation. Furthermore, South Korea’s economic and strategic relations with India have developed significantly, particularly after the end of the Cold War. The arms trade between the two countries has also grown notably. While India’s developing economic and strategic relations with South Korea are well-documented, there is a lack of literature on New Delhi’s increasing arms trade with Seoul. This article explains the challenges and prospects of South Korea’s trade of weapons with India.

India-South Korea Relations: A New Beginning

South Korean President’s visit has initiated a common vision and a roadmap between the two countries based on political cooperation, open economic and trade environment and deeper cultural understanding. India’s growing emphasis on its ‘Look East Policy’ and South Korea’s ‘New Asia Diplomatic Initiative’ is pushing the relationship to one of ‘strategic partnership.’

India-Republic of Korea Military Diplomacy : Past and Future Projections

As the first decade of the 21st century ended, India-Republic of Korea (ROK) relationship has assumed robustness in almost all dimensions – political, cultural and economic. As both countries enter the new year, a new dimension – security and strategic – that began in the preceding decade is likely to be seen in the expanding military cooperation, that began in the closing months of the preceding year. The foundation for such a relationship is already in place as both countries have identified a convergence of interests.

India-South Korea: The State of Affairs

The India-South Korea bilateral relationship is a remarkable example of how trade is the primary driver in global relationships. Ideology, which marked international relations in the previous decades, has given way to trade - which now is the international marker for relations. An important watershed in the relationship will be the beginning of construction for the POSCO integrated steel plant, which is slated to begin in April 2007 and would constitute the single largest foreign investment in India at US$ 12 b.