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SEOUL: Singapore and South Korea on Sunday (Nov 2) elevated their relationship to a Strategic Partnership as they marked 50 years of diplomatic relations. Cooperation between the two countries will be deepened and expanded in key areas and eight Memorandums of Understanding (MOUs) will be signed as part of the upgraded ties. Singapore Prime Minister Lawrence Wong and South Korean President Lee Jae Myung announced the new high-level diplomatic relationship at a joint press conference during Mr Wong’s first official visit to the country’s capital as prime minister. Speaking after an MOU ceremony at the Yongsan presidential office, Mr Wong said both sides have worked closely together while charting their own path and the partnership is stronger than ever. Singapore and South Korea are among each other’s top 10 trading partners, while investment flows are growing substantially. More Singaporeans are visiting, studying and working in Korea, and vice versa. “President Lee and I just now reaffirmed the excellent state of our relationship, and the vast potential for us to do more together,” said Mr Wong, explaining the rationale for the new Strategic Partnership. AREAS OF COOPERATION He said the two countries will collaborate more closely in defence technology and cybersecurity, as well as learn from each other’s experiences to improve the quality and delivery of public services. Singapore and South Korea will also deepen economic links and connectivity to unlock new opportunities for businesses and workers, and work together for green and more sustainable growth. They will harness “complementary strengths” in research, innovation and technology, and broaden people-to-people exchanges in education, arts, culture and sports. “We will work together to promote regional peace, stability and prosperity, and to reinforce the multilateral rules-based trading system, from which we have both benefited,” said Mr Wong. He also said Singapore and South Korea will jointly launch a project under the Singapore Cooperation Programme and the ASEAN-Korea Cooperation Fund to support digital transformation in Southeast Asia. “Singapore also looks forward to launching negotiations to upgrade the ASEAN-Korea FTA early next year,” he added. PARTNERSHIPS “EVER MORE VITAL” Given the uncertainty in the global economy, partnerships between like-minded countries have become “ever more vital”, said Mr Wong. In an interview with Singapore media, he said the upgrading of ties with various countries is “very much” a response to the erosion of the global trade order. “We have to double down on our collaborations with partners,” he said, adding that Singapore makes sure there is substance in the relationship.
