President Lee Jae Myung (right) and Singaporean Prime Minister Lawrence Wong on Nov. 2 shake hands at their joint news conference after their bilateral summit at the presidential office in Seoul. (Office of the President)

By Lee Dasom

President Lee Jae Myung and Singaporean Prime Minister Lawrence Wong on Nov. 2 agreed to elevate bilateral relations to a strategic partnership and boost cooperation in economy and national security.

Both leaders that day in a joint news conference announced the details of their agreement after their summit at the Office of the President in Seoul. 

"We agreed that strategic bilateral cooperation is crucial in the face of global challenges such as climate change and transnational crimes, given how the international order underpinning global growth and prosperity is being shaken," the president said. "Based on this shared understanding, the Prime Minister and I agreed to form a bilateral strategic partnership."

The two sides agreed to respond to the changing environment for economy and security based on their strategic partnership, bolster cooperation in strategic cutting-edge technologies and expand people-to-people exchanges.

To crack down on transnational crimes such as online scams, they also agreed to boost cooperation in policy and law enforcement through advanced digital and financial infrastructure.

In economic cooperation, both sides agreed to stimulate regional trade and investment by improving Korea's free trade agreements (FTA) with the Association of Southeast Asian Nations (ASEAN) and Singapore.

Singapore also agreed at the talks to import Jeju Island's beef and pork for the first time.

"Singapore is well-known for its strict quarantine," President Lee said. "This agreement is expected to further bolster the advance of our high-quality agricultural and food products to foreign markets."

The two countries also signed a memorandum of understanding on digital cooperation to stimulate joint research in cutting-edge technologies such as artificial intelligence and raise corporate exchange, as well as another on cooperation in establishment of green and digital shipping routes.

"We will further strengthen cooperation with ASEAN and the Asia-Pacific Economic Cooperation (APEC) for sustainable and inclusive growth in the region," President Lee said. "We will also actively back and cooperate in Singapore's activities as ASEAN chair in 2027 and APEC chair in 2030."

Prime Minister Wong said the bilateral FTA will see developments next year and that as mediators of this relationship, Singapore will support the creation of more meaningful and productive Korea-ASEAN relations.

dlektha0319@korea.kr