President Lee Jae-myung and Singapore Prime Minister Lawrence Wong agreed to elevate bilateral relations to a 'strategic partnership' and to strengthen cooperation in various fields including security and economy during their summit on the 2nd.

President Lee announced this agreement at a joint press conference following the summit with Prime Minister Wong, who visited Korea for the Asia-Pacific Economic Cooperation (APEC) summit, held at the Presidential Office in Yongsan, Seoul, the day after the APEC summit concluded in Gyeongju.

President Lee stated, "Amidst the shaking international order that has supported global growth and prosperity, both countries agreed on the importance of strategic cooperation in facing global challenges such as climate change and transnational crime." Based on the strategic partnership, the two countries decided to respond to the changing economic and security environment, further strengthen cooperation in advanced technology, and expand human exchanges.

In the security sector, they agreed to expand joint research on defense industry technology and to strengthen policy cooperation and law enforcement collaboration using advanced digital and financial infrastructure to eradicate transnational crimes such as 'online scams.' In the economic sector, they decided to invigorate trade and investment through improvements to the Korea-Association of Southeast Asian Nations (ASEAN) Free Trade Agreement (FTA) and the Korea-Singapore FTA. The leaders also reached a consensus on strengthening nuclear cooperation, including pursuing a nuclear agreement. Furthermore, the two countries signed a memorandum of understanding (MOU) for digital cooperation to promote joint research in advanced technologies such as artificial intelligence (AI) and to activate exchanges between companies.

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