India and South Korea signed four pacts after talks between Prime Minister Narendra Modi and President Moon Jae-in held today in New Delhi. PM Modi said "We have taken step to upgrade comprehensive economic partnership agreement between India and South Korea," adding "We have opened a new era of bilateral strategic cooperation."

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After their talks, Prime Minister Modi said India is a stakeholder in the peace process in the Korean peninsula and it will make all efforts to ensure peace in the region. At a joint media event, Modi also appreciated the South Korean leader for initiating the peace process in the Korean peninsula 

He said by signing an 'early harvest package' document, the two countries have taken a step forward in upgrading their comprehensive economic partnership agreement.

Issuing a statement on India-South Korea bilateral trade ties, the Prime Minister said that contribution of Korean firms is a key to the success of Make in India, and added that these companies have made an identity for themselves in every household of India due to their continued commitment. 

PM Modi said, "Korean companies have made an identity for themselves in every household of India due to their commitment," explaining that South Korea has contributed immensely to the government's 'Make in India' initiative and has created many employment opportunities in the country. 

He said, "When it comes to policies, India's 'Act East Policy' and Republic of Korea's 'New Southern Strategy' have natural common grounds & I welcome the South Korean President's view that India-Republic of Korea relations is the foundation of their New Southern Strategy." 

The Prime Minister also credited South Korean President for positive accelerating trade ties and peace projects, adding that he has helped in creating a conducive environment for taking bilateral relations further. 

The joint statement on bilateral relations between India and South Korea comes a day after PM Modi along with the South Korean President inaugurated the world's largest mobile phone factory in Uttar Pradesh's Noida. 

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Calling it a major boost to 'Make in India', he said, "Today is a very special day in making India a global manufacturing hub. This investment of Rs 5,000 crore will not only strengthen Samsung's business in India but will also prove to be an important milestone for the relations of India and South Korea."