Korea-Singapore Summit Held on the 2nd
President Lee Jae-myung and Singapore Prime Minister Lawrence Wong are greeting each other after finishing a joint press conference at the Yongsan Presidential Office on the 2nd. Photo by Yonhap News
President Lee Jae-myung and Singapore Prime Minister Lawrence Wong agreed to elevate the bilateral relationship to a "strategic partnership" during their summit on the 2nd.
At a joint press conference held at the Yongsan Presidential Office on the same day, President Lee stated, "With the international order that has supported global growth and prosperity now being shaken, and in the face of global challenges such as climate change and transnational crime, we agreed that strategic cooperation between our two countries is essential." He added, "Based on this shared understanding, Prime Minister Wong and I have established a strategic partnership between our nations today."
The two countries agreed to strengthen cooperation in response to the changing economic and security environment, as well as in the fields of advanced technology and people-to-people exchanges. In terms of security, they will expand joint research on defense industry technologies and enhance policy cooperation and law enforcement collaboration by utilizing advanced digital and financial infrastructure to eradicate transnational crimes such as online scams.
Prime Minister Wong explained, "We have agreed to learn from each other in expanding public services in digital security, healthcare, and other advanced technology sectors." President Lee added, "Furthermore, I expressed Korea's commitment to actively cooperate and participate in Singapore's efforts to diversify its defense supplies."
In the economic sphere, the two sides agreed to promote trade and investment by improving the Korea-ASEAN (Association of Southeast Asian Nations) Free Trade Agreement (FTA) and leveraging the Korea-Singapore FTA.
President Lee Jae-myung and Singapore Prime Minister Lawrence Wong are toasting at the official luncheon held at the Yongsan Presidential Office on the 2nd. Photo by Yonhap News
President Lee stated, "For the first time, we have agreed to export Jeju-produced beef and pork to Singapore," and added, "Singapore is known for its strict quarantine standards. This agreement will serve as an opportunity to further expand the global reach of our agricultural and food products."
Additionally, the two countries signed several memoranda of understanding (MOUs): a "Digital Cooperation MOU" to promote joint research in advanced technologies such as artificial intelligence (AI) and to facilitate exchanges between companies; a "Green and Digital Shipping Corridor Cooperation MOU" to jointly lead the logistics and shipping industries; an MOU on cultural and sports cooperation; and an MOU on human resources administration cooperation.
President Lee said, "As Singapore is a global financial investment hub, I hope it will expand investment in Korea's promising small and medium-sized enterprises and K-content, enabling both countries to achieve joint growth in innovative industries."
He also emphasized, "Amid rapidly changing international dynamics, we had extensive discussions on ways to cooperate for regional peace and stability. Prime Minister Wong expressed his full support for our government's efforts to usher in a new era of peaceful coexistence and shared growth on the Korean Peninsula."
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