South Korea and Singapore are set to become strategic partners in 2024, commemorating 50 years of diplomatic relations. During South Korean President Yoon Suk-yeol’s visit to Singapore on October 8, Prime Minister Lawrence Wong made the announcement about the collaboration. In addition to establishing closer ties in trade, defence, artificial intelligence, and climate change, the countries have signed an extradition treaty.
Wong said, “This upgrade signifies deeper cooperation,” pointing out that both countries have a history as “Asian Tigers” that have had notable economic growth. He underlined their dedication to advancing regional stability and a global system based on norms.
South Korea, the third-largest LNG importer, and Singapore, an LNG hub, signed an agreement on LNG supply cooperation in an effort to strengthen energy security. The collaboration can involve supply chain crisis management techniques, cooperative buying, and LNG exchanges.
Four agreements on supply chains, tech innovation, food safety, and startup ecosystems were also inked by the nations. Yoon emphasised Seoul’s enhanced military cooperation with ASEAN, which includes coordinated drills and work with the defence sector.
Along with this, the leaders promised to fight new challenges including cyber and international crime.
