South Korea, Singapore aim to become strategic partners next year

South Korea, Singapore aim to become strategic partners next year

South Korea and Singapore have agreed to embark on a strategic partnership next year, marking the 50th anniversary of their establishment of diplomatic relations, the city state's Prime Minister Lawrence Wong said on Tuesday.

The two nations signed an extradition treaty and will look to deepen co-operation in fields such as artificial intelligence, defence and climate change, as well as upgrade their free trade pact.

"The upgrade is not just a change in name; it also means more substantial co-operation," Wong told a joint press conference with South Korean President Yoon Suk Yeol, who is on a state visit.

Both countries have many attributes in common, Wong added. "We were both 'Asian Tigers' that successfully transformed our economies," he said.

"And because we have benefited greatly from regional peace and stability, we now seek to do our part to contribute towards the rule of law and strengthening the rules-based global order."

In addition, South Korea, the world's No.3 importer of liquefied natural gas (LNG), and Singapore, an LNG hub, signed a deal on co-operation in LNG supplies to benefit stability of the international supply chain, Yoon said in televised remarks.

Joint efforts could range from LNG swaps and joint purchases to co-operation in tackling LNG supply chain crises, the Yonhap news agency said.

The countries also signed four pacts on supply chains, technology co-operation, food safety, and startups.

Yoon, who visited the Philippines this week, wraps up his trip to Singapore on Wednesday before heading to Laos for a regional summit of leaders of the Association of Southeast Asian Nations (ASEAN) and several other Asian countries.

Seoul will participate in joint military exercises with ASEAN and step up defence industry co-operation, the Straits Times newspaper quoted Yoon as saying in a written interview.

It will also work jointly to combat emerging threats such as cyber and transnational crime, he added.