<div><span style="font-size: 10pt;">President Ram Nath Kovind has said that the economic partnership between India and South Korea is strong and vibrant and the visit of the South Korean President will infuse a new momentum. </span></div>''<div><br />''</div>''<div>Welcoming President of South Korea Moon Jae-in at the Rashtrapati Bhavan, Mr Kovind said, India's Act East policy harmonises neatly with South Korean "New Southern Community". </div>''<div><br />''</div>''<div>He said, as democracies and as countries that seek ethical market practices, it is logical for both countries to work together for an inclusive, equitable, stable, secure and rules-based international order. </div>''<div><br />''</div>''<div>The President expressed happiness that India-South Korea economic ties are strengthening and the bilateral trade crossed 20 billion dollars in 2017, posing an impressive 25 per cent annual growth. </div>''<div><br />''</div>''<div>He congratulated the South Korean President for his efforts and determination in turning the security situation prevailing in the Korean Peninsula into a stable and peaceful one. Mr Kovind stated that his mediation efforts are commendable and India fully supports them. The President also hosted a banquet in his honour.</div>