India and ROK share excellent bilateral relations in the political, diplomatic, and economic sphere. Although India established consular relations with ROK in 1962, relations actually took off in the 1990s, including a first ever Prime Ministerial visit to ROK by P.V. Narasimha Rao. Former President A.P.J. Abdul Kalam also paid a visit to ROK in 2006 to initiate a study group on a comprehensive bilateral trade agreement. Currently the two countries are trying to expand cooperation in both trade and in the field of Defense including maritime security. India and ROK are also trying to negotiate a bilateral comprehensive economic partnership which would include cooperation in field such as technology, textiles, automobiles, shipbuilding, and agriculture.

The total number of Indians in ROK is nearly 6000. They are mostly businessmen with some professionals in foreign banks and multinational companies. There is minimal Indian corporate presence in Korea. The Indian Overseas Bank (lOB) and Air India have their offices in Seoul. TATA-Daewoo has its office in Gunsan. There is also a Tagore Society of Korea, a Korea-India Society, Indian Women's Association, Korea-India Research Association (Busan), and a Korea-India Parliamentary Friendship Association. Indian businessmen have also formed an Indian Merchants Association in Seoul.