India, South Korea Advance IK CEPA Upgrade Talks

India and the Republic of Korea held the 12th round of negotiations for upgrading the India-Korea Comprehensive Economic Partnership Agreement (IK CEPA) in New Delhi from 25 to 27 May 2026. The talks followed a Joint Declaration signed on 20 April 2026 during the South Korean President’s state visit to India. IK CEPA came into force in 2010 and provides the legal framework for trade and investment cooperation between the two countries.

India-Korea Comprehensive Economic Partnership Agreement

The India-Korea Comprehensive Economic Partnership Agreement is a bilateral trade pact between India and the Republic of Korea. A comprehensive economic partnership agreement usually covers trade in goods, trade in services, investment, and trade-related rules.

12th Round of Negotiations

The 12th round was co-chaired by Kapil Chaudhary, Joint Secretary in India’s Department of Commerce, and Park Geun-oh, Director General for Trade Agreement Policy at South Korea’s Ministry of Trade, Industry and Energy. The discussions covered Trade in Goods, Trade in Services, Rules of Origin and Origin Procedures, Investment, and Sanitary and Phytosanitary standards.

Trade Balance and New Cooperation Areas

India and South Korea noted India’s bilateral trade deficit with South Korea since IK CEPA entered into force in 2010. The two sides decided to form sub-groups on digital trade, supply chain cooperation, and strategic industrial collaboration.

Important Facts for Exams

• IK CEPA is the abbreviation for the India-Korea Comprehensive Economic Partnership Agreement.
• The Ministry of Trade, Industry and Energy is South Korea’s trade ministry.
• Rules of Origin determine the country of origin of goods under a trade agreement.
• Sanitary and Phytosanitary standards relate to food safety, animal health, and plant health measures.

India and South Korea have committed to concluding the CEPA upgrade negotiations in a time-bound manner. The upgraded agreement is intended to cover modern trade areas such as digital trade and supply chain cooperation.