Leaders of Korea, Singapore agree at summit to upgrade FTA

President Lee Jae Myung and Singapore Prime Minister Lawrence Wong shake hands after a joint press briefing at the Ministry of Foreign Affairs in Singapore, Monday. Yonhap

President Lee Jae Myung on Monday described the current global climate as one of “hyper-uncertainty,” finding common ground with Singaporean Prime Minister Lawrence Wong as the two leaders met for a summit in the city-state and pledged to deepen economic, technological and security ties.

They also formally opened negotiations to modernize their two-decade-old free trade agreement, a concrete step toward reshaping their partnership around artificial intelligence (AI), nuclear energy and supply chain security.

Speaking during the meeting at Singapore’s government complex, Lee said that navigating intensifying geopolitical tensions and economic volatility required “true partners who can be trusted to overcome difficulties together.” He added that he hoped to work closely with Wong during his term to “set a new milestone” in bilateral relations, reaffirming Korea and Singapore as strategic partners bound by mutual trust and a shared long-term vision.

“Through this visit, I look forward to elevating cooperation in trade and investments, which have driven the development of our bilateral ties, while deepening and expanding the depth and scope of our collaboration in future strategic sectors, including AI, energy, the green transition, economic security and the defense industry,” Lee said.

Wong echoed the sentiment, saying the two countries share strategic interests as like-minded nations committed to free trade and a rules-based international order. He noted that the meeting was especially meaningful as it marked the leaders’ first summit since the bilateral relationship was upgraded to a strategic partnership last year, and came at a time of heightened global uncertainties. Wong said he hoped the talks would be constructive and yield tangible outcomes.

On the sidelines of the summit, the two governments agreed to begin negotiations to upgrade their free trade agreement, which took effect in 2006, and signed five memorandums of understanding aimed at broadening cooperation. The agreements covered AI governance, science and technology collaboration, public safety and digital innovation, intellectual property, the joint use of environmental satellites and cooperation on small modular reactors.

Regional and global security issues were also discussed. In a joint press briefing after the talks, Lee said the two leaders exchanged views on the situation in the Middle East following U.S. and Israeli strikes on Iran. He said they assessed the impact of the conflict on global security, energy supply chains and the world economy, and shared hopes for the restoration of stability and peace in the region.

Lee also thanked Singapore for its continued support for peace on the Korean Peninsula, noting that Singapore hosted the historic 2018 U.S.-North Korea summit. He said the city-state had demonstrated “exceptional diplomatic leadership” through dialogue and communication and expressed hope it would continue to play a constructive role in promoting regional peace and stability.

The leaders agreed to further strengthen defense and security cooperation, including expanding joint research on defense technologies and enhancing collaboration against transnational threats such as online scams and cybercrime. Lee also pledged Korea’s support for Singapore’s role as chair of the Association of Southeast Asian Nations next year.

Lee described Korea and Singapore as model middle powers that have turned limited resources and geopolitical challenges into drivers of growth, calling the partnership increasingly vital in an era of global uncertainties.