South Korea and Singapore have agreed to establish a strategic partnership next year, as announced by Singapore’s Prime Minister Lawrence Wong during a joint press conference with South Korean President Yoon Suk Yeol. This partnership will coincide with the 50th anniversary of the two nations’ diplomatic relations. The announcement followed President Yoon’s state visit to Singapore on Tuesday.
As part of this new strategic alignment, the two countries signed an extradition treaty and committed to deepening collaboration in key areas such as artificial intelligence, defense, and climate change. They also agreed to upgrade their existing free trade agreement to foster more substantial cooperation, according to Prime Minister Wong.
Highlighting the shared history of both nations, Wong remarked, “We were both ‘Asian Tigers’ that successfully transformed our economies.” He emphasized that, due to their economic success rooted in regional stability, both countries are now keen on supporting the rule of law and strengthening a rules-based global order.
South Korea, which ranks as the third-largest importer of liquefied natural gas (LNG), and Singapore, an LNG hub, also signed an agreement to enhance cooperation in LNG supplies. President Yoon noted that these efforts aim to contribute to the stability of the international LNG supply chain. According to Yonhap news agency, potential joint initiatives could include LNG swaps, joint purchases, and addressing supply chain disruptions.
In addition to the LNG cooperation, four other agreements were signed, covering supply chains, technology collaboration, food safety, and support for start-ups.
Before concluding his visit to Singapore on Wednesday, President Yoon will head to Laos for a summit with leaders from the Association of Southeast Asian Nations (Asean) and other Asian countries. He also revealed that South Korea would participate in joint military exercises with Asean and explore further defense industry collaborations. Combatting emerging threats such as cybercrime and transnational crime will be another focus of cooperation between the two nations.
Featured Image courtesy of The Japan Times
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