MIL Asia Pacific Publishing Engine

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

     Following is a question by the Hon Michelle Tang and a reply by the Secretary for Development, Ms Bernadette Linn, in the Legislative Council today (May 6):
 
Question:
     
     In its direct investigation operation report on the Government’s work on landslide prevention and mitigation and management of government slopes published in January this year, the Office of The Ombudsman put forward a series of recommendations and indicated that in the second stage of the investigation, it would examine the Government’s determination of slope maintenance responsibility and risk management of private slopes. In this connection, will the Government inform this Council:

(1) of the follow-up work undertaken by the Government in response to the recommendations set out in the aforesaid report; given that in the reply to a question raised by a Member of this Council on the Estimates of Expenditure for the financial year 2026-2027, the Government indicated that it would enhance the Landslip Prevention and Mitigation Programme (LPMitP), whether the measures under the LPMitP will include the application of latest technologies such as artificial intelligence and data management to strengthen slope safety management; if so, of the details; if not, the reasons for that;     
     The CEDD will continue to implement the Landslip Prevention and Mitigation Programme. Starting from 2025, the CEDD has been progressively increasing the annual target output of the programme.  Under the risk-based approach, priority is given to the risk management of man-made slopes and natural hillsides located adjacent to sole vehicular access roads, which could have relatively high potential impacts on the daily lives of citizens.     
     The Development Bureau and its subordinate departments provide owners with technical and financial support in several areas. First, they assist owners in identifying man-made slopes that pose safety risks and require follow-up. In this regard, the CEDD selects private slopes annually for safety-screening studies based on a “risk-based” approach. If there are signs of significant damage or potential hazards, the Buildings Department (BD) will issue a Dangerous Hillside Order (DH Order), requiring private owners to conduct investigation and repair works. After a DH Order is issued, the BD will proactively arrange on-site inspections with the owners and their appointed professionals, and explain the compliance requirements and procedures. For cases where no substantial progress has been made for a long time past the deadline, the BD will carry out default works while taking prosecution action.     
(3) As mentioned above, the risk management of private slopes is divided among different departments. The LandsD is responsible for determining maintenance responsibilities; the CEDD selects private slopes for safety-screening studies; and the BD is responsible for enforcement work regarding DH Orders. 
     
     A high-level inter-departmental working group comprising the three departments holds regular meetings at least twice a year to promptly resolve complex cases and responsibility disputes. The departments will also share information and experience. We will continue to strengthen cross-departmental collaboration through this high-level mechanism to ensure effective slope management. 

Source: Hong Kong Information Services

The total value of retail sales in March, provisionally estimated at $33.9 billion, was up 12.8% compared with the same month a year earlier, the Census & Statistics Department announced today.

After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales represents a 9.8% year-on-year increase.

Online sales accounted for 9.7% of the total retail sales value in March. Provisionally estimated at $3.3 billion, the value of this segment rose 35.1% from the same month a year earlier.

The value of sales of consumer goods “not elsewhere classified” increased 18.1% in March 2026 compared with the same period a year earlier.

There were also increases in the following categories: jewellery, watches and clocks, and valuable gifts (up 27.2%); commodities in supermarkets (up 0.6%); electrical goods and other consumer durable goods not elsewhere classified (up 30.1%); medicines and cosmetics (up 3.1%); clothing (up 8.3%); food, alcoholic drinks and tobacco (up 1%); commodities in department stores (up 1.3%); motor vehicles and parts (up 80.8%); books, newspapers, stationery and gifts (up 3%); furniture and fixtures (up 0.6%); and optical items (up 7.4%).

Meanwhile, the value of sales of fuels was down 14.2% in March compared with the same month in the previous year. This was followed by sales of Chinese drugs and herbs (down 5.4%); and footwear, allied products and other clothing accessories also fell (down 10.2%).

The Government highlighted that retail sales continued to strengthen in March. In particular, motor vehicle sales showed strong growth as purchases spiked ahead of the expiry of the first registration tax concessions for electric private cars at the end of the month.

Looking ahead, it said that the near-term outlook for retail sales remains broadly positive. This is supported by recovering local demand, sustained growth in inbound tourism and a favourable macro-financial environment.

The Government will continue to track downside risks from geopolitical tensions to assess any implications for consumer spending.

Source: Hong Kong Information Services

Chief Executive John Lee today received Prime Minister of Uzbekistan Abdulla Nigmatovich Aripov and his delegation at Government House as they arrived in Hong Kong for economic and trade events.

The leaders discussed further strengthening co-operation between Hong Kong and Uzbekistan.

Mr Lee noted that Hong Kong is a functional platform for the Belt & Road (B&R) Initiative, while Uzbekistan is a major country in Central Asia with abundant natural resources, a strong labour force, and experience in rapid economic growth. As the two places are both active participants in the Belt & Road Initiative, there is vast potential for co-operation.

The Chief Executive said Hong Kong will continue to leverage its unique advantage of having the strong support of the motherland and being closely connected to the world under the “one country, two systems” principle, deepen international exchanges and co-operation, proactively explore B&R markets, and further strengthen collaboration with Uzbekistan in different areas, in order to jointly seize the opportunities brought by the B&R Initiative.

Mr Lee told the prime minister that Hong Kong is making every effort to develop into an international innovation and technology centre and an international hub for high-calibre talent, apart from being an international financial, shipping and trading centre. The city offers a highly internationalised and market-driven business environment, being the world’s fifth-largest trading entity in merchandise trade economy, and ranking No. 1 in the world in economic freedom.

There is vast potential for co-operation between Hong Kong and Uzbekistan, Mr Lee added, as Uzbekistan’s economy is growing rapidly and is vigorously promoting infrastructure development.

Mr Lee encouraged Uzbek enterprises to establish a presence in Hong Kong and leverage the city’s advantage in connecting with both the Mainland and the world to explore more business opportunities.

He emphasised that Hong Kong will continue to play its roles as a “super connector” and a “super value-adder”, to work with Uzbekistan to explore more business opportunities for mutual benefit and win-win outcomes.

Mr Lee also welcomed more young people from Uzbekistan to come to Hong Kong for further studies and career development, to further promote people-to-people and cultural exchanges between the two places.

He noted that the city is pressing ahead to develop into an international post-secondary education hub and is the only city in the world with five universities ranked among the world’s top 100.

Furthermore, the Hong Kong Special Administrative Region Government has set up a Task Force on Study in Hong Kong, and has launched the B&R Scholarship to attract outstanding students around the world.

Also in attendance at today’s meeting were Deputy Financial Secretary Michael Wong, Deputy Secretary for Justice Cheung Kwok-kwan, Secretary for Commerce & Economic Development Algernon Yau, and Director of the Chief Executive’s Office Carol Yip.

Source: Republic of China Taiwan

On the afternoon of May 5, President Lai Ching-te met with a cross-party delegation from the Israeli Knesset (parliament). In remarks, President Lai thanked the Knesset for its firm support for Taiwan’s international participation and noted that while Taiwan and Israel are geographically far apart, they share such values as freedom and democracy. The president expressed hope that through more frequent bilateral exchanges and cooperation in a more diverse range of areas, Taiwan and Israel can continue to deepen the partnership, jointly safeguard democratic values, and make greater contributions to the world and their respective regions.
A translation of President Lai’s remarks follows:
I want to thank former Speaker of the Knesset Mickey Levy and Israel-Taiwan parliamentary friendship group Chair Boaz Toporovsky for their long-time support of Taiwan. Last July, Chair Toporovsky initiated a joint cross-party statement by members of the Knesset backing Taiwan’s international participation. Former Speaker Levy was the first to echo that statement. I thank both of you for your continued attention, support, and friendship toward Taiwan.
Taiwan and Israel are geographically far apart, yet we share such universal values as freedom and democracy. We also face complicated circumstances in our respective regions. Thus, as we witness the continued expansion of authoritarianism, we keenly understand that only by constantly enhancing our self-defense capabilities and societal resilience can we ensure peace and protect peoples’ daily lives and democratic institutions.
As part of this process, we greatly value opportunities to learn from like-minded countries. Israel has accumulated abundant experience in such fields as civil mobilization, emergency response, and combat casualty care. And Israeli society has exhibited a spirit of solidarity and resilience. These are all things Taiwan should learn from. At the same time, we look forward to working with Israel and other friends and allies through the Global Cooperation and Training Framework to strengthen exchanges and cooperation on such issues as digital development, countering cross-border crime, sustainable development, and medical resilience. Together, we can make even greater contributions to the global democratic community.
In addition, last year, Taiwan and Israel signed MOUs on intellectual property cooperation and the Patent Prosecution Highway. These will help strengthen the patent portfolios of businesses in both countries and integrate our respective technological advantages, advancing industrial development.
Israel is globally renowned as the “startup nation” thanks to its strengths in AI R&D and software, and Taiwan is actively promoting its 10 new AI infrastructure initiatives to gradually transform Taiwan into an AI island. I am confident that moving forward, Taiwan and Israel can work together to address the challenges of the AI era, jointly strengthen supply chain and economic resilience, and promote global prosperity and stability.
In closing, I once again thank the Israeli Knesset for its long-time support of Taiwan. I anticipate that through more frequent bilateral exchanges and cooperation in a more diverse range of areas, Taiwan and Israel can continue to deepen the partnership, jointly safeguard democratic values, and make greater contributions to the world and our regions.
Former Speaker Levy then delivered remarks, first thanking President Lai for taking the time to receive the delegation and for the warm welcome and saying that it is an honor for them to be here. He noted that despite the ongoing war with Iran and Hezbollah, the delegation members felt it was very important to visit Taiwan. He also expressed hope that the ceasefire agreement would remain in effect until the delegation’s return home.
Former Speaker Levy pointed out that this visit to Taiwan is intended to demonstrate the strong bond between the two nations. He mentioned that following the October 7, 2023 attack by Hamas on Israel, Taiwan was among the first countries to stand behind and support Israel. Calling Taiwan a true friend of Israel, he expressed his gratitude for Taiwan’s friendship and kindness over the years.
Former Speaker Levy noted that Taiwan and Israel are very similar, both being democratic, liberal countries. He said he looks forward to Taiwan and Israel working together to further deepen cooperation in fields such as the economy, technology – especially AI, and security. Delivering a message in his capacity as former speaker of the Knesset, he stated that Israel stands with Taiwan and expressed his hope that our friendship will only grow stronger.
Former Speaker Levy stated that while Israel needs peace, it must first ensure its security. Recalling that 15 years ago many Arab nations sought to push Israel out, he noted that in recent years Israel has signed the Abraham Accords with several Arab countries and expressed hope that more nations would join. Reflecting on the history of Israel’s development, he emphasized the importance of their establishing a state and protecting their homeland. In closing, he once again expressed his hope that the relationship between Israel and Taiwan will deepen, growing ever stronger and more robust.
The delegation also included members of the Knesset Yonatan Mishraki and Ron Katz, and was accompanied to the Presidential Office by Representative of the Israel Economic and Cultural Office in Taipei Maya Yaron. 

Source: Republic of China Taiwan

Minister of Economic Affairs Kung Ming-hsin and Minister of Foreign Affairs Lin Chia-lung co-hosted the “Taiwan Night: 2026 Smart City & City Net-Zero Expo” gala dinner on April 17 at the Taipei Nangang Exhibition Center. The event brought together central government ministers, city mayors, and senior officials overseeing smart city development from over 20 countries to exchange experiences and explore opportunities for cooperation on smart city innovation and net-zero transformation.

According to the Ministry of Economic Affairs (MOEA), this year’s Expo centered on the vision of “AI-driven Dual Transformation of Digital and Green Technologies.” By showcasing “AI CITIES,” the event demonstrated the deep integration of AI and the Internet of Things (AIoT) in smart city applications, thereby facilitating the transition from automation to high-level autonomy in urban management. Under the theme of “Building a New Future Economy,” the Expo featured dual thematic zones:

The Net-Zero Zone: Focused on applications in diversified green energy and the circular economy.

The AI Zone: Showcased cutting-edge technologies, including silicon photonics and quantum computing, which underscored Taiwan’s overall technological prowess.

he MOEA noted that the 2026 Smart City & City Net-Zero Expo attracted leaders and representatives from 174 cities across 53 countries and regions, along with over 3,000 international professionals. International guests highly praised the exhibition. Many city representatives remarked that Taiwan’s achievements in smart cities and digital technology were deeply impressive, particularly in AI applications, smart transportation, and urban governance, thereby providing valuable practical experience for others to emulate. The exchange platform set up by the Expo and “Taiwan Night” facilitated inter-city cooperation and technical exchange, with participants looking forward to deepening partnerships with Taiwan in smart city and net-zero sectors.

During the dinner, Minister Kung engaged with representatives from numerous countries, including the United Kingdom, Poland, and Ukraine. He commended the Taipei Computer Association for its years of dedication to organizing the Expo. Minister Kung emphasized that the event successfully combined Taiwan’s industrial strengths in ICT hardware manufacturing and systems integration for collaboration with global partners so as to transform innovative technology into smart, low-carbon solutions.

For more details about the event, please visit the official website at https://smartcity.org.tw/

Source: Republic of China Taiwan

President Lai presides over seventh meeting of National Climate Change Committee  
On the afternoon of April 30, President Lai Ching-te presided over the seventh meeting of the National Climate Change Committee. In his opening statement, President Lai said that the government must regard green cover as national-level resilience infrastructure and actively implement strategies to multiply green spaces. He elaborated that these strategies will consist of three core elements: precise site selection through scientific evaluation, the construction of a systematic resilience network, and whole-of-society mobilization. The president also indicated that a cross-ministerial initiative for systematic watershed management has been launched to create self-restoring, resilient corridors, safeguarding every drop of Taiwan’s precious water resources. He pointed out that every effort made will become Taiwan’s most economical and direct form of climate defense, expressing hope that through collective action, we can leave a lasting legacy of sustainability and hope for the next generation.
A translation of President Lai’s opening statement follows:
Today is the seventh meeting of the National Climate Change Committee and the last day of April. Have you noticed how April, traditionally a spring month, now already feels like summer? This is a clear indication of ongoing global climate change.
According to a report by the World Meteorological Organization in March of this year, 2015-2025 are the hottest 11 years on record. Extreme heat, heavy rainfall, and tropical cyclones will continue to impact social and economic systems worldwide. This is a grave reminder that Earth’s energy imbalance is spiraling out of control and our climate situation is reaching a tipping point. Facing these changes is vital to the safety and quality of our lives.
Over the past six meetings, we have established a solid foundation for our government to advance carbon reduction and energy transition efforts. If climate governance were a baseball game, carbon reduction would be our long-term defensive play. But in the face of increasingly hot summers, we cannot simply defend. We must also go on the offensive and proactively engage in climate adaptation.
Carbon reduction is for a better future. Adaptation is for a better present.
We cannot passively endure heat waves, droughts, and floods. Last month on Arbor Day, I announced the promotion of “urban forests” as a national-level adaptation plan. On the eve of Earth Day last week, I met with environmental group representatives and mentioned that the Ministry of Environment (MOENV) will present a national tree-planting initiative during today’s meeting.
These efforts will help form the most solid foundation for Taiwan’s sustainable development. We must elevate green cover to the same level of priority as power and water supplies, treating it as national-level resilience infrastructure. I also ask all committee members to consider how we can progressively structure and implement this through professional expertise, dedicated agencies, and specialized legislation.
Next, we must actively implement strategies to multiply our green cover. Such strategies will consist of three core elements:
First, we must precisely select suitable sites through scientific evaluation. Building upon our previous tree-planting efforts, we must further utilize advanced monitoring technologies to analyze the distribution of heat islands and shade gaps across Taiwan. In addition to identifying high-temperature areas, we must use scientific analysis to ensure that trees are planted in the most effective locations, maximizing their cooling effect.
Second, we will create a systematic resilience network. I have already asked the administrative team to integrate ministerial resources and coordinate with local governments to systematically link urban forests, community forest belts, and natural forests. We must break from a fragmented governing approach and build a comprehensive, resilient green network across our land, allowing green resources to link up across regions and enhancing our national defense capabilities in all aspects.
Third, we must mobilize all of society to get involved. Climate adaptation requires collective effort. We must continue to expand public-private partnerships, mobilizing society and integrating resources to involve businesses and communities in environmental restoration. We must make protecting our green canopy a localized initiative across our whole society, working together to build a cooler, more comfortable home for the next generation.
Another lifeline of climate adaptation is water. Our government has already launched a cross-ministerial, systematic watershed management program. From upstream catchment area conservation to comprehensive urban flood control, we are creating self-restoring, resilient corridors across Taiwan to protect every drop of our nation’s precious water resources.
These strategic guidelines have already been translated into concrete action plans. The administrative team will report on the specific details of these plans during today’s meeting:
First, the MOENV will report on the plan to multiply green cover for climate adaptation, aimed at building a resilient green network for the public. The Ministry of Economic Affairs (MOEA) will then discuss the action plan for the sustainable development of water resources and watersheds through systematic, cross-ministerial management.
We often say, “One generation plants trees; the next enjoys the shade.” Although it takes time for trees to grow into forests, every tree we plant and every river we manage is about more than just landscaping. As long as we protect them well and manage them with precision, every effort we make today will become Taiwan’s most economical and direct form of climate defense tomorrow.
As Senior Advisor Wu Sheng (吳晟), the “tree-planting poet,” has said (in Taiwanese), “Where there are trees, there is wind, and the wind brings coolness; where there are trees, there is shade, and the shade brings coolness.” Let us take action together to leave a lasting legacy that safeguards sustainability and preserves hope. Thank you.
Following his statement, President Lai heard the abovementioned reports from Minister of Environment Peng Chi-ming (彭啓明) and Vice Minister of Economic Affairs Lai Chien-hsin (賴建信). Afterward, President Lai exchanged views with the committee members regarding the content of the reports.

Source: Government of the Republic of Korea

I extend my sincere gratitude to General Secretary To Lam and the people of Viet Nam for the gracious invitation extended to me and my delegation, and for the warm hospitality we have received.

Last year, following the inauguration of the Republic of Korea’s new administration, General Secretary To Lam visited Korea as our first state guest.

This time, I am honored to visit Viet Nam as the first state guest since its new leadership took office. This is a special moment that reflects the closeness of the relationship between our two countries.

I am also pleased to witness firsthand Viet Nam’s dynamic progress achieved under the leadership of General Secretary To Lam.

Viet Nam is the Republic of Korea’s third-largest partner in trade and investment, and Korea is Viet Nam’s largest foreign investor.

Approximately 10,000 Korean businesses are active in a wide range of sectors in Viet Nam, including petrochemicals, shipbuilding, steel and electronics. This attests to our highly integrated economic partnership.

Korea is an ideal partner for realizing Viet Nam’s vision of becoming a developed, high-income country by 2045, and both countries are advancing comprehensive cooperation across various fields – ranging from hardware sectors such as logistics, transportation, energy and infrastructure to such future oriented areas as science and technology, intellectual property and the creative industries.

During our summit today, we agreed to further strengthen our Comprehensive Strategic Partnership.

Allow me to outline the key outcomes of today’s summit.

First, our two countries agreed to further advance mutually beneficial cooperation in trade and investment with the aim of achieving US$150 billion in bilateral trade by 2030.

We broke new ground by agreeing to allow mutual exports of heat-treated poultry products. With the signing today of the MOU on Cooperation in Animal Health and Quarantine, we also agreed to accelerate our cooperation on the promotion of trade in agricultural and livestock products.

I once again extend my sincere gratitude to General Secretary To Lam for recognizing the important role played by Korean companies in Viet Nam, and for his pledge to make every possible effort to provide them with a stable and predictable business environment.

Second, building upon our two nations’ profound mutual trust, we agreed to deepen our strategic cooperation in the fields of energy and infrastructure.

We two leaders concurred that bilateral cooperation has become even more important amid the supply chain instability stemming from recent volatility in the Middle East. To this end, we agreed to work closely together to bolster energy security and stabilize global supply chains.

Tomorrow, a contract will be signed on the export of Korean rolling stock for the Ho Chi Minh City Metro. I look forward to this agreement contributing to the improvement of Viet Nam’s railway infrastructure and serving as a catalyst for expanding bilateral cooperation on large-scale transport and logistics infrastructure projects currently underway in the country.

Furthermore, we agreed to maintain close coordination to create numerous model cases of bilateral infrastructure cooperation through Viet Nam’s new city and airport projects, which form a part of its national development vision.

Third, we agreed to further expand cooperation in future-oriented areas ranging from science and technology to climate action and environment, as well as culture and education.

I conveyed my full support for the science and technology development policies that General Secretary To Lam is promoting, and I underscored that Korea will actively contribute to such efforts.

Guided by the Master Plan on Science, Technology Innovation Cooperation, our two countries agreed to strengthen cooperation in joint research across key sectors – including semiconductors, rechargeable batteries and biohealth – as well as in supporting the cultivation of research talent.

The MOU on Digital Cooperation concluded on this occasion will expand bilateral cooperation in artificial intelligence, semiconductors and various digital sectors, while also facilitating Korean IT companies’ entry into the Vietnamese market.

Moreover, our two countries concluded the MOU on Cooperation for Water Security in the interest of preventing floods and promoting water security in the face of climate change. We also agreed to work together with Viet Nam – a nation with strong potential in the creative industries – to deepen cultural cooperation, including in the media sector, and to expand Korean language education in Viet Nam.

Fourth, we agreed to cooperate closely to ensure that our citizens – including members of multicultural families – can reside safely and securely in one another’s country and to advance their rights and interests.

Viet Nam is the second-most-popular overseas destination for Koreans, with around 4.5 million Koreans visiting each year.

It stands as the leading partner in international marriages for Koreans, with over 100,000 multicultural families uniting our two nations through kinship, and making Viet Nam a country of in-laws. It is also home to the largest Korean community in ASEAN.

General Secretary To Lam pledged to ensure the safety of Korean nationals visiting Viet Nam and to support the comfortable stay and residence of Koreans and second-generation Korean Vietnamese living in Viet Nam. In turn, I reaffirmed Korea’s commitment to enhancing the rights and interests of Vietnamese workers and immigrant spouses in Korea.

Finally, we two leaders engaged in a wide-ranging exchange of views on ways to promote peace and stability in the region, including on the Korean Peninsula.

I conveyed our government’s vision for building a Korean Peninsula defined by peaceful coexistence and shared prosperity. General Secretary To Lam expressed a high regard for our government’s sincere commitment to resuming dialogue and cooperation with North Korea and pledged to contribute to peace and stability on the Korean Peninsula.

Our two countries also agreed to continue close coordination and to further expand cooperation in the international arena, including at the United Nations.

The Korean government will faithfully implement the cooperative measures agreed upon today with General Secretary To Lam, while further deepening and expanding our Comprehensive Strategic Partnership.

Once again, I extend my deepest gratitude to General Secretary To Lam and the people of Viet Nam for their warm hospitality.

Xin cam on. (Thank you.)

Source: Government of the Republic of Korea

Honorable Prime Minister Narendra Modi and the people of India,

I extend my sincere gratitude for the gracious invitation extended to me and my delegation, and for the warm hospitality we have received.

It is a great honor and pleasure to visit India – the world’s largest democracy and the most dynamic engines of growth – as President of the Republic of Korea. This is the first state visit to India by a Korean President in eight years, and I have chosen to undertake it earlier in my term than any of my predecessors – reflecting on the importance I attach to our partnership.

Since establishing diplomatic relations in 1973, Korea and India have achieved remarkable progress. Milestones as the conclusion of the Korea–India Comprehensive Economic Partnership Agreement (CEPA) in 2010 and the elevation of our ties to a Special Strategic Partnership in 2015 stand as a testament to our shared commitment.

Today, we stand ready to embark on another ten years of this Special Strategic Partnership with renewed ambitions.

During our summit today, Prime Minister Modi and I engaged in in-depth discussions not only on the future direction of our bilateral relations but also on regional and international developments.

As the world’s most populous country and the fourth-largest economy, India is emerging as a leading voice of the Global South, advancing with remarkable momentum under the Prime Minister’s national vision of Viksit Bharat 2047.

Likewise, the Republic of Korea is establishing itself as a global leader across sectors, including shipbuilding, semiconductors, the defense industry and cultural industries. We are accelerating innovation and growth to achieve a great national leap forward where all citizens grow together.

The Prime Minister and I shared the view that, in these uncertain times, Korea and India are well positioned to become ideal partners for comprehensive cooperation that fosters mutual growth and innovation.

In line with this, we agreed to further advance our economic cooperation, while expanding collaboration in shipbuilding, finance, artificial intelligence, national defense, the defense industry and other strategic areas. We also committed to further strengthening our cultural and people-to-people exchanges.

Allow me now to outline the key outcomes of today’s summit.

First, we agreed to upgrade the framework for economic cooperation between our two countries to generate new momentum for shared growth.

We agreed to establish the “Korea–India Industrial Cooperation Committee,” our countries’ first ministerial-level platform dedicated to economic cooperation. Through this committee, we will strengthen bilateral collaboration not only in trade and investment but also in strategic sectors such as critical minerals, nuclear energy and clean energy.

In light of recent developments in the Middle East, we will continue to strengthen bilateral cooperation to ensure a stable supply of energy resources and key raw materials, including naphtha.

We agreed to expedite negotiations on upgrading the Korea–India CEPA, with the aim of fostering a more favorable trade and investment environment for Korean businesses. The upgraded agreement will fully reflect new trade norms, enabling our two countries to respond in a timely manner to evolving trade conditions, including in such areas as supply chains and the green economy.

Moreover, we will amend the MOU on cooperation in the field of small and medium-sized enterprises to establish a working-level consultative body between the Korean Embassy in India and India’s regulatory authorities, thereby enhancing systematic support for Korean SMEs entering the Indian market.

In this way, our two countries will make every effort to expand bilateral trade from its current level of approximately US$25 billion annually to US$50 billion by 2030, and to further strengthen Korea–India economic cooperation across key sectors.

Second, we agreed to expand cooperation in strategic industries that leverages our two countries’ respective strengths.

In the shipbuilding sector, we will work together to ensure that Korean companies’ advanced technological expertise can benefit from the policy support of India’s central and local governments, for instance, regarding the construction of shipbuilding facilities, guaranteed placement of shipbuilding orders and production subsidies. Through this partnership, Korean firms will be able to explore new opportunities in India’s shipbuilding market.

As for the financial sector, through the MOU on cooperation between financial authorities, we plan to lay the groundwork for Korean financial institutions to enter India’s financial market, which has grown to become the world’s third-largest.

We also agreed to strengthen cooperation in financial services and fintech, while sharing information related to the eligibility assessments required for financial institutions to enter one another’s markets.

Through the “Framework for the Korea-India Digital Bridge” we plan to build a foundation for AI and digital cooperation between India – a global hub of AI talent – and the Republic of Korea, which is home to world-class AI infrastructure.

Third, we agreed to further expand cultural and people-to-people exchanges.

Based on the MOU on cooperation in cultural and creative industries, we agreed to establish a “Mumbai Korea Center”, which will serve as a permanent K-pop performance hall and an overseas hub for K-culture. We look forward to it becoming a new platform for cultural cooperation – a place where K-pop and Bollywood come together.

Korean language and Korean studies programs offered by the Korea Foundation and the Korean Education Center in India will be expanded in a bid to actively respond to the growing demand for Korean culture in India.

Notably, through the MOU on interlinking QR code-based payment systems, our citizens will be able to use their own local QR payment system when visiting one another’s country. We expect that this will make travel between our two countries much more convenient.

Finally, we decided to continue close coordination to promote regional peace and address pending global challenges.

We exchanged views on the latest developments in the Middle East and shared the view that the restoration of peace and stability to the region is critical to global security and the economy.

In addition, I explained our government’s efforts to build peace on the Korean Peninsula and expressed my appreciation for the Indian government’s consistent support.

I look forward to India continuing to play a constructive role in promoting peace on the Korean Peninsula and in the region.

Building on the achievements of today’s summit, we adopted the Joint Strategic Vision for the ROK-India Special Strategic Partnership. I hope that follow-up measures are implemented swiftly so that tangible benefits accrue to the people of both countries.

I am confident that my state visit will further deepen trust and friendship between our two countries and serve as a catalyst for a new leap forward in comprehensive cooperation.

Prime Minister Modi committed, while ascending steps earlier, to visiting Korea by no later than next year. I sincerely appreciate this commitment.

I look forward to Prime Minister Modi’s visit to Korea and hope to maintain our close communication through various future opportunities.

Once again, I extend my sincere gratitude for the warm hospitality.

Dhanyawad!