- FTA upgrade talks begin
- Five MOUs signed in AI, nuclear
- Leaders discuss Middle East impact
South Korean President Lee Jae Myung recently held a summit with Singapore Prime Minister Lawrence Wong to advance cooperation in artificial intelligence, nuclear energy and other emerging technologies during his state visit to the city-state.
At a joint press conference, Lee and Wong announced the launch of negotiations to upgrade the bilateral free trade agreement, which took effect in 2006. The move signals efforts to modernise trade ties in line with evolving economic priorities.
The two sides also signed five memoranda of understanding covering cooperation in small modular reactors (SMRs) for nuclear power generation, artificial intelligence and advanced scientific research, including quantum technology and space satellites, according to South Korea’s Blue House.
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Additional agreements will promote investment collaboration between Singapore’s sovereign wealth fund Temasek and its asset management arm Seviora Group, and South Korea’s state-run Korea Development Bank, Lee told the press conference.
“Singapore is a meaningful place where the historic U.S.-North Korea summit was held in 2018,” Lee said. “I trust that you will continue to play a constructive role for peace on the Korean Peninsula and in the region.”
Lee added that he and Wong exchanged views on the situation in the Middle East, including its implications for global security, energy markets and supply chains. Both leaders agreed on the importance of restoring stability and peace in the region, he said.