Singapore and S. Korea launch strategic partnership to deepen economic links, defence cooperation

SEOUL – Singapore and South Korea have agreed to work more closely in a range of areas such as trade, sustainability and defence technology, as the two countries upgraded bilateral ties.

On Nov 1, Prime Minister Lawrence Wong and South Korean President Lee Jae Myung jointly launched a strategic partnership between the two countries at the presidential office in Seoul.

The strategic partnership has eight agreements, including a pact to establish a green and digital shipping corridor where the two nations will collaborate to support the maritime sector’s transition to zero or near-zero greenhouse gas emission fuels and accelerate digitalisation.

At a press conference following the launch, PM Wong noted that the upgrade of ties comes at a significant time, with Singapore and South Korea

celebrating 50 years of diplomatic relations

.

When both sides established relations in 1975, the global economy was still recovering from deep turbulence. Yet South Korea and Singapore pressed on and emerged as “Asian Tigers”, he added.

“We transformed our economies – each charting our own path, but always working closely together for mutual benefit,” he said.

“Today, our partnership is stronger than ever.”

One key agreement from the strategic partnership is for both countries to collaborate on new energy solutions, such as ammonia, hydrogen and civil nuclear energy technologies.

These efforts will not only contribute to the respective national green agendas but will also serve as models for broader regional cooperation, said PM Wong.

Both sides will also exchange knowledge and best practices between their public services, and deepen collaboration in other areas like cyber security and artificial intelligence.

PM Wong said the two countries will collaborate on AI safety and governance to build trust in the technology, and ensure it benefits both peoples and societies.

Mr Lee said the two leaders reaffirmed the excellent state of Singapore-South Korea ties, and the two countries have agreed to work together to respond to the evolving economic and security environment.

The South Korean President added that he hopes Singapore will continue to invest in South Korea and its businesses, and that South Korea will support the Republic’s chairmanship of Asean in 2027 and Apec in 2030.

The two countries also reached an agreement to allow, for the first time, the import of beef and pork from Jeju, an island in South Korea, to Singapore, he noted.

More cultural exchange is also on the cards, as the two countries have agreed to facilitate closer dialogue and partnerships between institutions in the arts, culture and sports sectors.

Such exchanges will deepen mutual understanding and friendship between the two peoples, PM Wong said.

As strategic partners, the countries will also work together to promote regional peace and prosperity.

The two sides will launch a joint project under the Singapore Cooperation Programme and the Asean-Korea Cooperation Fund to support Asean’s digital transformation.

As country coordinator for Asean-Korea economic relations, Singapore also looks forward to launching negotiations to upgrade the Asean-Korea Free Trade Area in early 2026, said PM Wong.

The visit to Seoul was PM Wong’s first official visit to South Korea as Prime Minister, and comes on the back of

the annual Asia-Pacific Economic Cooperation (Apec) summit in Gyeongju,

where he participated in the Apec Economic Leaders’ Meeting from Oct 31 to Nov 1.

PM Wong noted that the Korea-Singapore Free Trade Agreement – which came into force in 2006 – was South Korea’s first such deal with an Asian country, and laid a strong foundation for the pair’s economic links to flourish.

Both countries are now among each other’s top 10 trading partners, and investment flows are growing substantially.

They are also breaking new ground in emerging domains, and Singapore welcomes South Korea’s accession to

the Digital Economic Partnership Agreement (Depa),

said PM Wong.

The Depa, signed in 2020 by Singapore, Chile and New Zealand, facilitates digital trade. In 2024, South Korea

joined as its fourth member

.

At a lunch that Mr Lee hosted in honour of PM Wong and his wife, Mrs Wong, the South Korean President promised “unwavering trust” as the countries moved forward with the strategic partnership, and he hoped Singapore and South Korea can continue to shine amid a challenging geopolitical landscape.

Agreeing, PM Wong said Singapore and South Korea can be “two bright stars in an uncertain and unpredictable world that appears to be growing darker day by day”.

The strategic partnership is a statement of shared conviction that, in uncertain times, countries can and must work together – for mutual benefit, for the region and for the greater good, he added.

PM Wong told local media on Nov 1 that South Korea has many strengths, including in energy, AI and semiconductors.

Singapore hopes to complement South Korea’s strengths with its market networks, and as a base for South Korean companies to expand into the wider region and even to the world, he added.

“Already, there are these sorts of partnerships happening with quite a number of leading Korean companies with their headquarters in Singapore,” he said.

“So we hope to expand on that, do even more in these areas, and potentially in other areas too.”

For instance, South Korea is a food producer and can be a good partner in Singapore’s bid to diversify its food sources and improve food security, he noted.

Asked about the tangible outcomes for Singaporeans from the upgraded relationship, PM Wong said trade will benefit businesses, which in turn translates into opportunities for jobs and workers.

The city-state also has a lot to benefit from increased cultural exchange and people-to-people ties, given that Singaporeans are huge fans of Korean culture, film, music and drama, he added.

“We hope we can also offer something unique and distinctive for Korean visitors when they come to Singapore,” he said.