[2] Tata Motors' purchase of Daewoo Commercial Vehicles at the cost of US$102 million highlights one of India's many investments in Korea which consist mostly of subcontracting.

[9] The historical fact that people on the Indian subcontinent were familiar with Korea's customs and beliefs is amply testified by the records of the Chinese Buddhist pilgrim Yijing who reached India in 673.

His wife was formerly married to Sangha, a Tibetan,[11] and her father was Ch'ae In'gyu during the reign of Chungnyeol of Goryeo, recorded in the Dongguk Tonggam, Goryeosa and Liu Mengyan's Zhong'anji.

[14] However, including the people outside of the practicing population who are deeply influenced by Buddhism as part of Korean traditions, the number of Buddhists in South Korea is considered to be much larger.

[16][17] In 2001, a memorial of Heo Hwang-ok from 48 CE, who is believed to be a princess of Indian origin named Suriratna, was inaugurated by a Korean delegation in the city of Ayodhya, India, which included over a hundred historians and government representatives.

[19][20] Kim Jung-sook, first lady of South Korea, later inaugurated the groundbreaking of the Queen Heo Hwang-ok memorial with Uttar Pradesh Chief Minister Yogi Adityanath in November 2018, with plans for completion by 2020.

[22] During the 1997 Asian financial crisis, South Korean businesses sought to increase access to the global markets and began trade investments with India.

It led to the launch of a joint task force to conclude a bilateral Comprehensive Economic Partnership Agreement (CEPA), which was signed by Minister for Commerce and Industry Anand Sharma in Seoul on 7 August 2009.

Korean President Lee paid a landmark visit to India during Republic Day celebrations on 26 January 2010, when bilateral ties were raised to the level of strategic partnership.

Indian president Pratibha Patil embarked on a state visit to Korea from 24 to 27 July 2011, during which the Civil Nuclear Energy Cooperation Agreement was signed.

One year later, in June 2012, India, a major importer of arms and military hardware, planned eight warships from South Korea, but the contract ended in cancellation.