Abstract: Over the years, the economic relations between India and Republic of Korea have grown rapidly. However, the size of trade and investment relations between the two countries is still comparatively low and gives a lot of space for the improvisation. In the above mentioned context, the following paper examine and explore the investment and trade relations, barriers to economic relations and potential areas of future cooperation. We also find that the improvement in political relations between two countries increase the trade and investment by imposing policies like CEPA, Korea Plus and many more. It also focuses on the scope available for India to increase its export to ROK. Lastly, we also observe how changing few restrictive foreign policies of both the countries will give a major boost to trade and investment relations.