♤ In 2010, the bilateral ties were raised to the level of Strategic Partnership.

♤ 2011 two sides signed a Civil Nuclear Energy Cooperation Agreement was signed.

♤ Prime Minister Narendra Modi paid a state visit to Korea during 18-19 May 2015, taking place within the first year of his government. During the visit the bilateral relationship was upgraded to ‘special strategic partnership’. In the ‘Joint Statement for Special Strategic Partnership’ PM and President Park Geun-hye agreed to establish a 2+2 consultation mechanism at Secretary/Vice Minister of Foreign Office and Defence Ministry.

2.2. Economy

♤ Trade and economic relations have started to gather momentum again following the implementation of CEPA in 2010

♤ A revised trade target of USD 40 billion by 2015 was set by PM Singh and President Lee on 25 March 2012. However, bilateral trade has since declined to USD 18.13 billion in 2014-15, USD 16.56 billion in 2015-16, USD 16.82 billion in 2016-17, which finally recovered and posted a positive growth of 30% in the first seven months of 2017.