Leaders agree to upgrade Free Trade Agreement and expand cooperation in green energy, AI, and civil service exchanges.
Singapore’s Prime Minister Lawrence Wong and South Korea’s President Lee Jae Myung met on 2 March 2026 in Singapore to strengthen bilateral ties and outline new areas of cooperation.
At a joint press conference, Lawrence Wong welcomed Lee Jae Myung on his first official visit to Singapore as President. The meeting followed their earlier engagement in South Korea in November 2025.
Singapore and South Korea marked 50 years of diplomatic relations in 2025 and upgraded their ties to a Strategic Partnership. Both leaders said progress has been steady since then.
They agreed to upgrade the Korea-Singapore Free Trade Agreement, which came into force in 2006. The updated agreement will focus on supply chain resilience, digital trade, and green growth.
Singapore’s investments in South Korea have more than doubled since 2020. Companies such as PSA, Singapore Airlines, and CapitaLand have expanded their partnerships in logistics, aviation, and real estate. At the same time, Korean firms including Hyundai, Lotte Group, and Hanwha Ocean are increasing their presence in Singapore and using the country as a hub for Southeast Asia.
Both countries agreed to work closely on clean energy. Singapore is studying nuclear energy as part of its long-term energy strategy and hopes to learn from South Korea’s experience.
Negotiations have started on a Nuclear Cooperation Agreement, and both leaders expressed hope for a swift conclusion.
Singapore and South Korea will deepen cooperation in advanced manufacturing, Artificial Intelligence (AI), and other high-value sectors. New memorandums of understanding (MOUs) were exchanged to support joint research and talent exchanges.
Agencies from both sides will also strengthen cybersecurity cooperation to ensure safe and trusted digital growth.
Later in 2026, Singapore will host the first Singapura Programme for senior South Korean officials. In 2027, both sides plan to launch a broader Civil Service Exchange Programme.
People-to-people ties remain strong. Many Singaporeans travel to South Korea for its culture and entertainment. The popular K-pop group BTS is scheduled to perform in Singapore later this year.
Singapore also welcomes Korean visitors and residents who live and work in the country, contributing to its diverse society.
Both leaders reaffirmed their commitment to open trade and multilateralism. They will continue cooperation through frameworks such as the Regional Comprehensive Economic Partnership and the Digital Economy Partnership Agreement.
Singapore also looks forward to starting talks to upgrade the ASEAN-Korea Free Trade Area and will work closely with partners to achieve meaningful outcomes.
Prime Minister Wong said that in a complex global environment, trusted and like-minded partners are more important than ever. He expressed confidence that Singapore and South Korea will continue to strengthen their Strategic Partnership in the years ahead.
Source: PMO
