00:00Your Excellency President Yi Jae-moon, Excellencies, Ladies and Gentlemen,
00:07a very warm welcome to President Yi and his delegation.
00:11President Yi, you were a gracious host when I visited South Korea in November last year,
00:18and I'm pleased to be able to return your warm hospitality so soon after
00:23on your first visit to Singapore as President.
00:28Last year, Singapore and South Korea celebrated 50 years of diplomatic ties,
00:32and we elevated our ties to a strategic partnership.
00:36In just four months, we have made considerable progress in implementing this strategic partnership.
00:44We had just an exchange of quite a number of MOUs earlier,
00:48and President Yi and I also reviewed the strong momentum in our meeting just now.
00:53Let me share some highlights.
00:56First, we are strengthening our trade and economic ties.
01:00Singapore's investments in Korea have more than doubled since 2020.
01:07Companies like TSA, Singapore Airlines, and Capital Land are deepening collaborations
01:13with Korean partners across logistics, aviation, and real estate.
01:19Korea's investments in Singapore have also grown steadily.
01:23Leading firms like Hyundai, Lotte Group, and Hanwha Ocean are not only doing more here,
01:28but also using Singapore as a hub to access opportunities across Southeast Asia and beyond.
01:34This robust growth builds on the strong foundations laid by the Korea-Singapore FTA, which entered into force in 2006.
01:44Over the past two decades since then, the global trading landscape has evolved significantly,
01:49with greater emphasis on supply chain resilience, digital trade, and the green transition.
01:56And so President Yi and I agreed to upgrade our FTA to ensure it remains forward-looking, relevant, and beneficial
02:05to our businesses and workers.
02:08As second, we are partnering each other to advance our green ambitions.
02:12Securing sustainable and reliable sources of clean energy will be critical to both our countries.
02:19Singapore is studying the potential of nuclear energy as part of our longer-term energy mix,
02:25and we hope to learn from Korea's expertise and experience.
02:30We have commenced negotiations on a nuclear cooperation agreement, and I look forward to its swift conclusion.
02:38Third, we are working together at the frontier of technology.
02:42Our new MOUs will facilitate joint research and talent exchanges in areas like advanced manufacturing and other high-value sectors,
02:51ensuring we remain competitive and innovative.
02:55President Yi and I also agree to deepen cooperation in artificial intelligence, or AI,
03:01and to work towards a bilateral framework for specific areas of AI collaboration.
03:07We will also work together on areas of common interest in the wider digital domain.
03:13And at the same time, our agencies will strengthen cybersecurity cooperation
03:18so that we can seize the opportunities of this digital age in a safe and trusted manner.
03:25Fourth, we are bringing our civil servants closer together.
03:28Later this year, Singapore will host the inaugural edition of the Singapura Program,
03:33a bespoke program for South Korean senior officials to exchange experiences and best practices.
03:39Next year, we hope to start a broader civil service exchange program to promote two-way interactions and deeper institutional
03:47linkages.
03:48These initiatives will build stronger relationships between our policymakers and facilitate even closer collaboration in future.
03:58Finally, our people-to-people ties are flourishing.
04:02South Korea is a global cultural powerhouse.
04:05Singaporeans are avid fans of K-drama and K-pop,
04:10and many travel to Korea to experience your rich culture and heritage firsthand.
04:15The Korean band BTS is performing here at the end of the year,
04:19and I understand that Singapore is their longest stop in Asia outside South Korea and Japan,
04:26so we look forward to welcoming them.
04:29Singapore, of course, is much smaller than Korea,
04:32but I'm glad that interest is just as strong in the other direction.
04:35We welcome the many Korean visitors who come each year to Singapore,
04:39as well as the vibrant Korean community that lives, works and studies here.
04:45They add to the richness and diversity of our society and strengthen the bonds between our people.
04:52Beyond bilateral ties, we are also working closely together to advance our shared interest in open trade,
04:59multilateralism and digital connectivity,
05:02both regionally and through plurilateral frameworks like the Regional Comprehensive Economic Partnership or RCEP
05:10and the Digital Economy Partnership Agreement or DIPA.
05:14Singapore also looks forward to commencing negotiations to upgrade the ASEAN-Korea free trade area.
05:20And as coordinator for ASEAN-Korea economic relations,
05:24we are committed to working with all parties to deliver a meaningful and substantial outcome.
05:31In an increasingly complex and dangerous world,
05:36trusted and like-minded partners matter more than ever.
05:41I am glad that Singapore can count the Republic of Korea as a valued and reliable partner.
05:48So, President Yee, I look forward to working closely with you to bring our strategic partnership
05:55to even greater heights in the years ahead.
05:59Your Excellency Prime Minister Lawrence Wang and dear Singaporeans,
06:05thank you very much for your warm welcome and your hospitality.
06:11It is significant that we are meeting again in four months since our summit meeting in Seoul in November last
06:19year.
06:23Both Korea and Singapore leveraged limited resources and geopolitical challenges as a driver of growth in the 20th century
06:33during national building and modernization,
06:36and we have successfully transformed ourselves into exemplary middle powers.
06:41Prime Minister Wang and I shared a view that the two countries can be trusted partners
06:47in overcoming a new set of challenges in the 21st century, the era of hyper-uncertainty.
06:54Against this backdrop, we have agreed to further strengthen our bilateral cooperation
07:00based on the strategic partnership that was elevated last year
07:04in commemoration of 50 years of diplomatic ties.
07:07We have agreed to reinforce our cooperation in the economic sector,
07:13which has been driving our bilateral relations,
07:16while also accelerating innovation in advanced technology sectors such as AI
07:20and strengthening the foundation for cooperation in the military and security areas.
07:26To this end, our two governments adopted one joint statement and signed five MOUs.
07:31We will continue to engage in close communication and move swiftly to execute these initiatives.
07:39Allow me to share some of the highlights of today's summit in more detail.
07:45First, as leaders of regional free trade order,
07:50the two countries agree to further strengthen our economic relations
07:54and cooperate more closely for economic security and strategic investments.
07:59So, we agreed to launch negotiations to upgrade the Korea-Singapore FTA
08:05and adopted a joint statement in this regard just a moment ago.
08:10Prime Minister Wang and I agreed to upgrade the bilateral FTA,
08:14which is celebrating the 20th anniversary this year,
08:17to fully reflect changes in the trade and economic security environment
08:22and technology development.
08:23We have also decided to pursue close investment cooperation
08:27in a more strategic manner.
08:29The Korea Development Bank and Seviora,
08:33an asset management group of state-owned investment company Temasek,
08:37signed an MOU on investment partnership,
08:41which will lead investment cooperation between our two countries further.
08:45More investments in promising Korean SMEs and emerging industries
08:51will lead to mutually beneficial growth of our two economies.
08:56We have also agreed to sign an MOU on smart farm cooperation as soon as possible.
09:02We will expand cooperation to strengthen food security
09:05and promote sustainable agriculture using advanced technology.
09:12Second, we agreed to expand comprehensive cooperation in advanced technologies and energy security.
09:20In order to further deepen cooperation in artificial intelligence,
09:26our two countries have agreed to pursue the conclusion of an AI cooperation framework.
09:31Through expanded joint research and investment in industrial innovation based on physical AI
09:37and the practical application of AI in everyday life,
09:40we will secure the momentum of our AI cooperation.
09:44We expect that by combining the advanced AI capabilities
09:48and innovative industrial ecosystems of our two countries,
09:51we will generate strong synergies and accelerate AI development across the region.
09:57Furthermore, through the MOU on cooperation in artificial intelligence
10:02and digital technologies for public safety and the MOU on enhanced cooperation
10:08in the field of intellectual property signed today,
10:12our two countries will further our collaboration to expand the use of AI
10:15in public safety and administrative services.
10:18These initiatives will serve as an important milestone
10:22in advancing our shared vision for AI for all.
10:25We also concluded the MOU on science and technology cooperation
10:30to strengthen collaboration in quantum computing, space and satellite technologies,
10:35the MOU on space and geospatial information for environmental and pollution issues
10:40to share and validate satellite data for air quality research,
10:43and the MOU on civil nuclear cooperation to jointly develop business models
10:48and share relevant information in the SMR sector.
10:51Building upon the achievements of today's discussions,
10:53we look forward to further consolidating our existing cooperation
10:56in trade investment and infrastructure while expanding the scope of our partnership
11:01into promising future-oriented fields such as AI, nuclear energy
11:06and advanced science and technology.
11:11Third, we agreed to further expand cooperation in the field of security
11:15and continue working together to promote peace and stability in the region.
11:20We agreed to broaden our ongoing joint research in defense technologies
11:27and to continue discussions on enhancing defense capabilities based on advanced technologies.
11:35We will also strengthen our cooperation in responding to transnational crimes,
11:40including online scams and cyber threats.
11:45The Republic of Korea reaffirmed our strong support for Singapore's role as the ASEAN Chair next year.
11:53Furthermore, we will work closely with Singapore to further elaborate and advance the vision of the CSP,
12:01which was proclaimed at Korea-ASEAN Summit last year,
12:06to serve as a contributor in realizing dreams and aspirations,
12:08a springboard for growth and innovation,
12:12and a partner for peace and stability.
12:22Singapore is a place of great significance,
12:26having hosted the historic United States-North Korea Summit in 2018.
12:31I would like to express my sincere appreciation to the Prime Minister
12:38for his strong support for our government's efforts to promote peace and stability on the Korean Peninsula
12:42and to resume inter-Korean dialogue.
12:45Eight years ago, Singapore demonstrated exceptional diplomatic leadership for peace
12:50through communication and engagement.
12:53I am confident that Singapore will continue to play a constructive role
12:58in promoting peace on the Korean Peninsula and across the region.
13:02We also discussed the recent developments in the Middle East.
13:06We assessed the impact of the situation on global security in the world economy,
13:11including the energy supply chains,
13:13and shared the hope that stability and peace will soon be restored in the Middle East.
13:21I firmly believe that this visit will further strengthen the friendship and trust between our two countries
13:27and elevate our strategic partnership to a new level.
13:32Once again, I extend my heartfelt gratitude to the government and people of Singapore
13:38for the warm hospitality extended to me and my delegation.
13:43Thank you very much.
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