Korea and Singapore on the 2nd established a "strategic partnership" on the occasion of the Korea-Singapore summit. The two countries agreed to expand strategic cooperation and coordination in security, including joint research on defense industry technologies, and to strengthen economic cooperation and people-to-people exchanges by improving the free trade agreement (FTA). In particular, they agreed to export beef and pork from Jeju Island to Singapore. They will also strengthen cross-border law enforcement cooperation to eradicate online scams.
On this day at the Yongsan presidential office, President Lee held a summit with Singapore Prime Minister Lawrence Wong and said at a joint briefing, "We agreed that strategic cooperation between the two countries is important as the international order that has supported global growth and prosperity is shaking, and in the face of global challenges such as climate change and transnational crime," adding, "Based on the 'strategic partnership,' we agreed to respond to the economic and security environment and to expand cooperation in advanced technologies and people-to-people exchanges."
At the summit, the two leaders declared: ▲ expansion of strategic coordination in security, including research on defense industry technologies ▲ revitalization of regional trade and investment through improvement of the Korea-ASEAN FTA and the Korea-Singapore FTA ▲ support for the Korean government's efforts for peace on the Korean Peninsula and joint growth. In particular, regarding security, they agreed to cooperate to strengthen "digital security."
President Lee said, "We will further expand joint research on defense industry technologies, and I conveyed Korea's commitment to actively cooperate and participate in Singapore's diversification of defense supplies." In particular, he said they agreed not only on policy cooperation but also to strengthen law enforcement cooperation to eradicate transnational crimes such as online scams that are linked across the Asian region.
President Lee said, "At this summit, for the first time, we also agreed to export Jeju Island beef and pork to Singapore," adding, "Singapore's quarantine is known to be strict. With this agreement as a starting point, we expect our excellent agro-food products to make further inroads into the global market."
He added, "Singapore is the fourth-largest in the world, and No. 1 in ASEAN, in investing heavily in Korea," and said, "As a global finance and investment hub, Singapore's increased investment in Korea's promising small and midsize enterprises and K-content will help both countries achieve joint growth in innovative industries."
On the occasion of the summit, the two countries signed a "memorandum of understanding (MOU) on digital cooperation." It calls for activating joint research in advanced technologies such as artificial intelligence (AI) and exchanges among corporations, and accelerating the creation of advanced industrial ecosystems in both countries. They also signed an "MOU on establishing green and digital shipping routes," aimed at leading eco-friendly and digital shipping as logistics and maritime powers. Accordingly, they also agreed to cooperate in other nuclear technology fields such as ammonia and hydrogen.
Prime Minister Lawrence Wong said, "We decided to further raise cooperation in defense, security, and technology," adding, "By focusing on digital security in particular, we will better protect our people and our nation." He also said the two countries will cooperate on technology development to expand "public services" in health care and advanced technology.
On economic cooperation, he said, "The two countries agreed to cooperate on establishing green digital shipping routes to expand supply chains and bolster resilience," adding, "Cooperation in ammonia, hydrogen, and other nuclear technologies will not only help the green agenda but also contribute to regional cooperation."