Ebl President of the Republic of KoreaYoon Suk Yeol, was ceremoniously received at Parliament House, after which he met with President Tharman Shanmugaratnam. Separately, he met with Prime Minister and Finance Minister Lawrence Wong and Chief Minister Lee Hsien Loong. Prime Minister Wong and Mrs. Wong invited President Yoon and First Lady Kim Keon Hee to lunch. A new hybrid orchid, Dendrobium Yoon Suk Yeol Kim Keon Hee, was named in honor of President Yoon and Mrs. Kim.
President Tharman and President Yoon affirmed the strengthening of economic relations between Singapore and the Republic of Korea, as well as the deepening of people-to-people ties. They agreed on the existence of synergies between the capabilities and priorities of Singapore and the Republic of Korea, as well as the possibilities of collaboration in areas such as Artificial Intelligence (AI), cybersecurity, climate change and research and development (I +D), including links between universities in both countries. President Tharman welcomed the Republic of Korea’s emerging role as a responsible middle power and its growing commitment to ASEAN.
Prime Minister Wong and President Yoon took stock of the strong and substantial partnership between Singapore and the Republic of Korea. They talked about expanding cooperation in key areas such as trade and investment, air connectivity, defense and education. They welcomed the progress made in future areas such as artificial intelligence, innovation, climate change and the digital and green economies.
They also discussed regional and international developments and agreed on the need for constructive dialogue to promote peace, stability and prosperity on the Korean Peninsula. Noting that 2024 marks 35 years of dialogue relations between ASEAN and the Republic of Korea, they discussed the potential of ASEAN and the Republic of Korea to enhance cooperation in key areas such as trade and the digital economy.
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In recognition of the growing depth and breadth of the bilateral partnership, Prime Minister Wong and President Yoon agreed to work towards elevating Singapore-Korea relations to a Strategic Partnership in 2025, coinciding with the 50th anniversary of diplomatic relations. The Strategic Partnership will establish the roadmap to deepen cooperation in a wide range of forward-looking areas to bring tangible benefits to the people and businesses of both countries.
Prime Minister Wong and President Yoon also witnessed the signing of an extradition treaty, as well as the exchange of five Memorandums of Understanding (MOUs) and agreements to enhance cooperation in the areas of supply chain resilience, security food, energy, start-ups and technology. These MoUs and agreements reflect the multi-faceted nature of the Singapore-Kingdom of Korea partnership and provide a welcome impetus to expanding bilateral cooperation as both countries move towards a Strategic Partnership.
They talked about expanding cooperation in key areas such as trade and investment, air connectivity, defense and education.
Minister Lee and President Yoon reaffirmed the strong economic and people-to-people ties between Singapore and the Republic of Korea and exchanged views on regional and international developments. They agreed that Singapore and the Republic of Korea share an interest in supporting the multilateral trading system and the rules-based international order. Minister Lee welcomed the Republic of Korea’s increased commitment to ASEAN and its support for ASEAN centrality, as embodied in the Korea-ASEAN Solidarity Initiative.
Minister Lee and President Yoon also agreed on the potential for ASEAN and the ROK to do more in areas such as trade, connectivity, digitalization, food security and ecological transition.
President Tharman and Ms. Jane Ittogi Shanmugaratnam will host a state banquet tonight in honor of President Yoon and Mr. Kim.
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