South Korea's Lee to seek big boost in economic ties in summit with India's Modi

South Korean President Lee Jae Myung heads into talks with Indian Prime Minister Narendra Modi in New Delhi on Monday, aiming for a big boost in economic cooperation, particularly in areas such as shipbuilding.



It is the first South Korean presidential state visit to India in eight years.



"The level of economic cooperation between South Korea and India is still very low," Lee said on Sunday at a dinner meeting with members of the Korean community in New Delhi.



"Going forward, we will expand that space and make the relationship between South Korea and India completely different from what it is now."



The two countries are seeking to improve their Comprehensive Economic Partnership Agreement with the aim of nearly doubling bilateral trade to $50 billion by 2030 from $25.7 billion last year, according to presidential adviser Wi Sung-lac.



During his stay, Lee will also take part in business events with corporate leaders. Other areas where the countries might work together include finance artificial intelligence and defence, Wi said.