President Lee Jae Myung pledged Hormuz energy security cooperation with India during their summit on Monday. Specifically, he made these remarks in a written interview before meeting Prime Minister Narendra Modi. The Iran war has effectively closed the vital Strait of Hormuz. Consequently, both countries face severe disruptions to their energy supplies. Lee stressed that safe navigation through the strait remains essential for national survival.
Lee and Modi kicked off their first standalone summit with an official welcome ceremony. After that, they visited the Gandhi memorial together. The leaders then held a small group meeting followed by an expanded summit. They also signed several memoranda of understanding during the event. A joint press conference and a state luncheon concluded the official proceedings. Lee arrived in New Delhi on Sunday afternoon for this three day visit.
The Hormuz energy security partnership has become increasingly urgent for both nations. South Korea depends on the Middle East for most of its crude oil. Similarly, India relies heavily on the same volatile region for natural gas. The war has disrupted supply chains and triggered a global economic crisis. Therefore, Lee stated that both countries must work together on diversifying their energy sources. Reducing excessive dependence on any single nation has become a matter of survival.
Furthermore, Lee emphasized that Korea and India can harness each other’s comparative advantages. India possesses critical minerals needed for advanced manufacturing. In turn, Korea can transform those minerals into rechargeable batteries and electric vehicles. As a result, this makes the two countries ideal partners for generating economic synergy. Lee also announced that South Korea intends to join the Indo-Pacific Oceans Initiative. India launched this voluntary framework in November 2019 at an ASEAN summit.
The Hormuz energy security partnership extends to military cooperation as well. South Korea participated in the International Fleet Review this year. Additionally, the country joined the multilateral exercise MILAN hosted by India. South Korea first joined MILAN in 2022 and participated again in 2024 and 2026. Consequently, these engagements demonstrate growing defense ties between the two nations.
On the economic front, Lee said a key priority involves upgrading the Comprehensive Economic Partnership Agreement. This free trade agreement initially took effect in 2010. The leaders plan to broaden cooperation into shipbuilding, finance, and the defense industry. They aim to bring to life the vision of Make in India, Together with Korea. Moreover, a large scale business forum will follow the summit on Monday afternoon. The event brings together 600 participants from both countries.
Major South Korean companies from shipbuilding, steel, and electronics will attend. Likewise, Indian firms from chemicals, biotechnology, and materials sectors will also participate. The Hormuz energy security partnership thus spans diplomatic, military, and commercial realms. Lee emphasized that strategic coordination across the Indo Pacific has become ever more vital. The war in the Middle East has shown that no country can secure stability alone. Therefore, Korea will work closely with regional partners to foster deeper cooperation. This summit represents a critical juncture for both nations’ economic security.
