South Korean President Lee Jae Myung and Indian Prime Minister Narendra Modi agreed on Monday to jointly stabilise energy supply chains, including securing stable supplies of naphtha — a key petrochemical feedstock that South Korea largely imports from the Middle East via the Strait of Hormuz, which has been effectively closed amid US-Iran tensions. Meeting in New Delhi, the two leaders also set a target of doubling bilateral trade from $25 billion to $50 billion by 2030, pledging to accelerate an upgrade to their Comprehensive Economic Partnership Agreement (CEPA) and signing 15 cooperation documents spanning shipbuilding, artificial intelligence, and critical minerals. The summit signals deepening strategic ties between Asia's third- and fifth-largest economies at a time of heightened global supply chain uncertainty.