Jeju beef and pork to be exported to Singapore for the first time
On November 2, President Lee Jae-myung of South Korea and Prime Minister Lawrence Wong of Singapore held a summit at the Presidential Office in Yongsan, Seoul, elevating bilateral relations to a “strategic partnership.” The two countries agreed to enhance cooperation across security, economic, and digital sectors.
President Lee explained the rationale behind the upgraded ties, stating, “Strategic cooperation between our countries is vital in addressing global challenges such as climate change and transnational crime.” The two sides agreed to expand joint research in defense technology, strengthen digital and financial cooperation to combat transnational crimes such as online scams, pursue advanced technology research in areas including AI, and promote business exchanges through memorandums of understanding.
In the economic sphere, the agreements include boosting trade and investment through improvements to the Korea-Singapore FTA and Korea-ASEAN FTA, collaborating on nuclear energy projects, and exporting Jeju-produced beef and pork to Singapore for the first time. President Lee noted, “Singapore’s quarantine standards are very strict, but this export agreement will help Korean agricultural products reach global markets.”
The two countries also pledged cooperation in logistics and shipping, human resources administration, and cultural and sports exchanges. Singapore is expected to expand investment in promising Korean SMEs and K-content, fostering joint growth in innovative industries.
Prime Minister Wong described South Korea and Singapore as “two rising stars of Asia in an uncertain era” and emphasized regular exchanges and friendship between the peoples of both nations. The Presidential Office assessed that the summit marked a significant step in the Lee administration’s ASEAN-focused policy, further strengthening strategic cooperation with Singapore and the wider ASEAN region.