Leaders of S. Korea, India hold summit on economic cooperation

SEOUL -- South Korean President Moon Jae-in held summit talks in Seoul Friday with visiting Indian Prime Minister Narendra Modi to expand bilateral economic cooperation, according to the presidential Blue House of South Korea.

Modi made a two-day state visit to Seoul from Thursday, holding a one-on-one summit with Moon and an expanded meeting, which involved their respective senior aides and ministers, earlier in the day.

During the talks, the leaders agreed to strengthen their partnership and expand cooperation in various areas including the Fourth Industrial Revolution.

The two countries will make concerted efforts for research and development (R&D) in artificial intelligence, robotics, information and communications technology (ICT), electric vehicle and healthcare sectors.

For the future-oriented cooperation, the two sides will expand their cooperation into the space industry, such as a joint lunar exploration, and the defense industry.

Moon and Modi agreed to cooperate to reach the target of $50 billion in bilateral trade by 2030.

The Indian prime minister expressed his unwavering support for the Korean Peninsula's complete denuclearization and the settlement of lasting peace.