South Korea and India to Share Intel on Pakistan and North Korea
South Korean President Park Geun-Hye (L) shakes hands with India's Prime Minister Manmohan Singh in Delhi Reuters

South Korea and India have signed a deal allowing them to share vital intelligence about each other's rivals - North Korea and Pakistan - respectively, in a move that is likely to tilt the balance in the Asian political and economic affairs.

The agreement on sharing classified information took place on the sidelines of talks between South Korean President Park Geun-hye and Indian premier Manmohan Singh in New Delhi.

"The two leaders welcomed the conclusion of the Agreement on the Protection of Classified Military Information, which they believe will contribute to enhancing mutual confidence and cooperation in the military field," a joint statement following the deal said.

Under the deal, the two countries are likely to exchange key details of nuclear activities taking place in North Korea and Pakistan.

Both Pakistan and North Korea are suspected to have been involved in sharing nuclear and missile technologies. Pakistani nuclear scientist A Q Khan is widely believed to have had a key role in North Korea's nuclear programme.

According to the agreement, the two countries will not share the information with any third party.

India has a relatively closer relationship with North Korea with both countries having diplomatic missions in each other's capital. Bilateral trade between India and North Korea reportedly amounts to $500m a year and is said to be increasing.

During Park's latest visit, a number of other economic deals between South Korea and India have also been inked, a move seen as an attempt to capitalise on each other's advantages.

India has also introduced "visa-on-arrival" facility for South Koreans.

"President Park welcomed the government of India's decision to provide tourist visa-on-arrival facilities to (Korea) nationals. The modalities will be worked out soon between the two sides," said the statement.