A senior official announced Thursday that South Korean President Lee Jae-myung will visit India and Vietnam in the coming days, as Seoul seeks to secure its fuel supplies to mitigate the effects of war in the Middle East.
Lee will leave on Sunday for a three-day visit to India, where he will meet Prime Minister Narendra Modi in New Delhi, National Security Advisor Wee Song Luck told reporters.
Wei said the two leaders are expected to reaffirm their mutual commitment to maintaining close coordination on energy supply chains amid the turbulent international scene.
He added that the talks will seek to enhance cooperation in strategic sectors such as shipbuilding, artificial intelligence and defence, and “lay the foundation” for doubling bilateral trade to $50 billion by 2030.
Lee and Modi will also discuss “continuing constructive cooperation for peace on the Korean Peninsula and within the region.”
Wei said Le would arrive in Hanoi later on Tuesday and meet Vietnamese leader Tu Lam the next day.
The couple will discuss “concrete measures to enhance strategic and mutual cooperation amid global uncertainty.”
The talks will focus on energy security, supply chain stability, cooperation in critical minerals and other areas.
Vietnam is South Korea’s third largest trading partner, and the countries aim to reach $150 billion in annual volume of goods and services this decade.
Like many Asian economies, South Korea has faced increasing risks to its energy supplies since US-Israeli attacks on Iran in late February prompted Tehran to effectively close the vital Strait of Hormuz.
Seoul said on Wednesday that it would buy more than 270 million barrels of crude oil via routes unaffected by the Strait blockade, saying the move would help stabilize domestic supply and demand.
Senior officials from South Korea and China will also hold economic talks next week aimed at ensuring a stable trade environment despite the shock of war, Yonhap News Agency reported on Thursday, citing the Foreign Ministry in Seoul.
