President Lee Links India’s ‘Jugaad’ with Korea’s ‘Daedong’ to Shape New Era of Cooperation

New Delhi:  South Korean President Lee Jae Myung has framed the future of Korea–India cooperation around the shared strength of two powerful cultural ideas — India’s ‘jugaad’, which he described as the spirit of creative innovation in limited conditions, and Korea’s ‘Daedong’, a philosophy of great harmony, solidarity and common prosperity.

In his address at the opening session of the India–Korea Business Forum in New Delhi on April 20 the President Lee, said,” India’s ‘Jugaad’ spirit is the power of innovation that finds creative solutions even in limited environments, while Korea’s ‘Daedong’ spirit is a value that achieves common prosperity through solidarity and cooperation.”

Korea’s ‘Daedong’ (대동/大同) spirit refers to a profound cultural and philosophical belief in “great harmony,” solidarity, and unity among the people. It envisions a harmonious, peaceful world where communities work together to achieve shared prosperity rather than individual success In modern contexts, it is interpreted as teamwork and collaboration to achieve massive success, sometimes blended with other cultural concepts like India’s ‘jugaad’ (innovation) to describe collaborative innovation.

The President said, “I am confident that if our two spirits remain united, Korea-India cooperation will not be shaken by any waves. Just as the bond that began across the sea 2,000 years ago has led to today’s cooperation, the promise we make here today will present a new history to future generations.”

The President said that India, as the world’s fourth-largest economy and home to 1.4 billion people, stands as a key pillar of the global economy. Addressing the India–Korea Business Forum in New Delhi on April 20, he noted that there is significant scope to further expand business and trade, adding that bilateral trade has considerable room for growth and, with sustained efforts, is expected to double alongside ongoing negotiations on the Comprehensive Economic Partnership Agreement.

On a 3-day visit to India, April 19-21, the Korean President emphasised the need to prepare high-tech industries for the future through collaboration and by leveraging India’s strengths in artificial intelligence. He further stated that cooperation in the shipping sector will be strengthened.The President also underlined the importance of moving beyond economic cooperation to build strong people-to-people trust between the two countries.

Union Minister of Commerce and Industry Piyush Goyal, while addressing the opening session of the India–Korea Business Forum highlighted the signing of the Memorandum of Understanding (MoU) on the India–Korea Industrial Cooperation Committee, comprising four working groups on trade, industry, strategic resources, and clean energy, as a landmark step towards strengthening bilateral economic engagement. A total of 16 MoUs were signed today at India Korea Business Forum.

Peeyush Goyal further informed that Prime Minister Narendra Modi and President Mr Lee Jae Myung have discussed the establishment of a large industrial township—a Korea-specific enclave in India with plug-and-play infrastructure to encourage greater investments and facilitate the entry of more Korean companies into the Indian market. He noted that this initiative will help Korean companies leverage India’s large domestic demand as well as its preferential access to nearly two-thirds of global GDP, enabled through nine Free Trade Agreements concluded over the past three and a half years with 38 developed economies.

He emphasized that sectors such as semiconductors, electronics, advanced manufacturing, e-mobility, green energy, shipbuilding, and digital trade offer strong complementarities between the two economies. He noted that India and Korea can collaborate through co-production, co-design, co-creation, co-innovation, and jointly serve global markets with high-quality and competitively priced products.

President, FICCI and Vice Chairman, RPG Group, Anant Goenka said that from semiconductors and electric vehicles to digital technologies and artificial intelligence, India’s scale aligns seamlessly with Korea’s innovation strengths. He noted that together, both countries can build a resilient and future-ready economic corridor.

Highlighting the ongoing reconfiguration of global supply chains, Goenka stated that India and Korea have a unique opportunity to develop a diversified, innovation-led economic corridor that is less vulnerable to external shocks and geared towards long-term resilience.