As part of the East Asia Summit (EAS) Initiative, South Korea signed a Memorandum of Understanding (MoU) with India to cooperate in reviving the ancient Nalanda University as an international institution that will advance the concept of an Asian community by bringing together future generations in a common objective of making new discoveries of old relationships to realize a unity of minds.

“India and the Republic of Korea recently held the first round of structured consultation between senior defence officials. President Park and I recognized the possibility of defence trade and joint production by further promoting collaboration between our defence research organizations. The Agreement on Protection of Classified Military Information signed today will also boost our defence engagement.,” said the Indian Prime Minister, Dr Manmohan Singh after the conclusion of delegation level talks with the visiting South Korean President, Park Geun-hye and her team here on Thursday.

The two leaders also agreed to hold regular exchanges to expand cooperation in the civil nuclear energy sector.

The South Korean President offered exports of minesweepers to India. Referring to North Korea, she nuclear proliferation will not be tolerated.

“The two leaders shared their views on the importance of maintaining peace and stability on the Korean Peninsula including the objective of denuclearization. They expressed concern over the development of North Korea's nuclear weapons program which is in violation of its international obligations and commitments. In this connection, the two leaders urged North Korea to comply fully with its international obligations, including under the relevant UN Security Council resolutions,” the joint statement on Expansion of the Strategic Partnership said.

India and South Korea agreed to continue to hold deputy defence minister level strategic dialogue on a regular basis. The 5th meeting of the Joint Committee on Defence Logistics and Industry will be held in the first half of 2014.

India offered to launch South Korean satellites on Indian satellite launch vehicles on a commercial basis. Both the countries agreed to set up up a joint ICT Policy Forum in 2014 in which cooperation on software and information security will be discussed.

Indian and South Korea agreed to start discussion on creating a roadmap formid and long term economic cooperation and upgrade the Comprehensive Economic Partnership Agreement (CEPA) between the two countries at the earliest. India-South Korea Joint Investment Promotion Committee will be upgraded to India-South Korea Joint Trade and Investment Promotion Committee at Cabinet level.

It was agreed to set up a South Korean Industrial Park in Rajasthan in India. Indian Prime Minister Dr Manmohan Singh invited South Korean participation in infrastructure projects in India like electric power plants and railway construction.

India-South Korea Air Services Agreement will be revised at an early date.

Recognizing that a Science and Technology Cooperation Fund of $10 million, contributed for the period 2011-2015, has been utilized to implement joint research projects in the science and technology sector, India and South Korea agreed to create an additional joint fund of $10 million (with a contribution of $5 million by each side) to promote mega projects which will be conducted jointly by the industries, academia and institutes. The projects will focus on research leading to application and techno-commercialization.

Regarding South Korean multinational company, POSCO’s project in Odisha, the Indian Prime Minister Dr Singh said : “I am happy that the large-scale POSCO steel project in Odisha is set to be operational in the coming weeks, following the revalidation of its environmental clearance. Grant of mining concession for the project is also at an advanced stage of processing. I conveyed to President Park our hope that this project will confirm that economic growth and environmental protection can go hand in hand.”

India and South Korea signed a MoU on a Joint Applied Research and Development Programme, agreements on cultural exchange programme, for joint ventures in ICT, cooperation between Indian public sector broadcaster Doordarshan and Korea International Broadcasting Foundation and for cooperation and information exchanges for development of an arrangement for mutual recognition of certifying authorities in ICT.