"It is in the interest of the Asian region to prevent China, that has increased its defence budget to 750 per cent since the past two decades, from becoming a regional hegemony.
"The continuing arms race in the East Asia can be a concern for the regional countries, including India," Korean Ambassador Joon-gyu Lee said at an event here.
Speaking at a conference titled: 'India and Korea: New Prospects for Bilateral Co-operation', the Ambassador called for strategic partnership between India and South Korea in strategic areas.
"The strengths of the Indian economy like defence, space research and airpower as well as Korea's strong shipping industry, can reap combined benefits for both the regions," he said.
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Lee also noted the importance of Indo-South Korean cooperation in the fields of nuclear energy and maritime security.
"Both India and Korea can exchange help with respect to nuclear energy and share crucial information among each other regarding maritime security. With India emerging as a strong force in SAARC and keeping in mind its 'Look East policy', there is a need for combining the wisdom of the region and ensure better co-operation among the regional countries.