President Lee Jae-myung, left, and Indian Prime Minister Narendra Modi talk during the official welcoming ceremony for their state visit at the Presidential Palace in New Delhi, Monday (local time). Yonhap

President Lee Jae Myung stressed the need for Korea and India to work together to ensure safe passage through the Strait of Hormuz in an interview published Monday, also highlighting the need for joint efforts to stabilize global supply chains.

In a written interview with The Times of India, held before his summit talks with Indian Prime Minister Narendra Modi, he noted that the effective closure of the critical shipping route due to the prolonged conflict between the United States and Iran has been driving up global oil prices while also disrupting supply chains for key industrial materials.

"Both the Republic of Korea and India depend on the Middle East for a significant share of their energy supplies, including crude oil and natural gas. Accordingly, ensuring the security of critical maritime routes is essential to the safety of our peoples and the very survival of our nations," Lee said, referring to Korea by its official name.

Indian Prime Minister Narendra Modi, right, greets President Lee Jae Myung with a hug during a welcome ceremony for the Korean leader at the presidential palace in New Delhi, Monday (local time). Yonhap

Lee and Modi were set to hold a bilateral summit later in the day, which would mark their third in-person meeting since Lee took office last year.

The president said Korea will collaborate with India on multilateral efforts to ensure safe passage through the strategic route and diversify energy supply chains to address uncertainties in the global economy.

"Korea will maintain close communication with India to ensure that all vessels can navigate the Strait of Hormuz safely and freely," he said. "We will also continue to work together in relevant international forums to uphold this shared commitment."

As part of efforts to reduce heavy dependence on imported energy and raw materials, Lee expressed hope to expand cooperation in critical mineral supply chains.

"By moving beyond the traditional model of importing raw material and combining Korea's technology with India's mining and refining industries, we can work together to establish stable critical-mineral supply chains," he said.

Source: Korea Times News