By UN Journal Lee Jon-young

President Lee Jae-myung held a summit with Singaporean Prime Minister Lawrence Wong on Nov. 2 and agreed to establish a "strategic partnership" between the two countries, deepening cooperation in the areas of economy and security.

Following the summit with Prime Minister Wong at the Presidential Office in Yongsan, President Lee issued a joint press release stating, "We agreed that the international order that has supported global growth and prosperity is being shaken, and that strategic cooperation between our two countries is crucial in the face of global challenges such as climate change and transnational crime."

He added, "Based on this shared understanding, Prime Minister Wong and I established a strategic partnership between our two countries."

He added, "Going forward, based on this strategic partnership, our two countries will address the evolving economic and security environment, while further strengthening high-tech cooperation and expanding people-to-people exchanges."

President Lee explained the outcome of this summit, saying, "The two countries agreed to further expand joint research on defense technology. Furthermore, I expressed Korea's commitment to actively cooperating and participating in Singapore's defense material diversification process."

He also stated, "To eradicate transnational crimes such as online scams, both countries, with their advanced digital and financial infrastructures, agreed to strengthen policy cooperation and law enforcement coordination."

President Lee also stated, "We agreed to further strengthen and expand economic cooperation and people-to-people exchanges." He added, "The two countries also agreed to work to revitalize regional trade and investment through improvements of the Korea-ASEAN Free Trade Agreement (FTA) and the Korea-Singapore FTA."

Notably, during this meeting, the two countries reached their first agreement on the export of Jeju Island beef and pork to Singapore.

President Lee stated, "Singapore is renowned for its strict quarantine procedures," and added, "I expect this agreement will further accelerate the advancement of our excellent agricultural and food products into the global market."

He continued, "Singapore is the fourth largest investor in Korea in the world and the largest in ASEAN," and emphasized, "I hope that Singapore, a global financial and investment hub, will expand its investment in promising Korean SMEs and K-content, enabling our two countries to achieve shared growth in innovative industries."

President Lee also said, "With the establishment of our 'strategic partnership,' our two governments will provide institutional support so that we can further actively engage in exchanges in diverse areas, including culture and the arts, tourism, education, and sports."

The two leaders exchanged extensive views on ways to cooperate for peace and stability in the region amidst the rapidly changing international order. President Lee stated, "Prime Minister Wong fully supported our government's efforts to usher in a new era of peaceful coexistence and shared growth on the Korean Peninsula."

President Lee emphasized, "We will continue to strengthen solidarity for sustainable and inclusive growth in the region, including through ASEAN and APEC."

Meanwhile, the two countries signed four MOUs during the summit: a Memorandum of Understanding (MOU) on digital cooperation, an MOU on cultural and sports cooperation, an MOU on cooperation in establishing green and digital shipping routes, and an MOU on cooperation in personnel administration.

Regarding this, President Lee stated, "Based on the recently signed 'Digital Cooperation MOU,' the two countries have agreed to promote joint research on cutting-edge technologies such as artificial intelligence and exchanges between companies. I expect this will further accelerate the development of a high-tech industrial ecosystem in both countries."

He added, "Based on the 'MOU on Cooperation in Establishing Green and Digital Shipping Routes,' our two logistics and shipping powerhouses plan to lead the way in eco-friendly and digital shipping."

Prime Minister Wong made a working visit to Korea on October 29, in conjunction with the APEC Summit. He also made an official visit on November 1 and 2 at the invitation of President Lee.