SEOUL, March 2 (GeokHub) – South Korean President Lee Jae Myung held summit talks with Singapore Prime Minister Lawrence Wong on Monday, unveiling plans to deepen cooperation in artificial intelligence, nuclear energy and advanced technologies.
The meeting took place during Lee’s state visit to Singapore, where both leaders agreed to begin negotiations to upgrade their existing free trade agreement, originally implemented in 2006.
AI, Nuclear and Advanced Science Collaboration
At a joint press conference, the two countries announced five new memoranda of understanding covering cooperation in artificial intelligence, small modular nuclear reactors (SMRs), quantum research and satellite technology.
South Korea’s presidential office said the agreements aim to strengthen joint research and accelerate innovation across high-tech sectors viewed as critical to long-term economic competitiveness.
The leaders also confirmed plans to expand financial collaboration. Singapore’s sovereign wealth fund Temasek and its asset management arm Seviora Group will pursue investment partnerships with Korea Development Bank, South Korea’s state-run development bank.
Trade Upgrade on the Agenda
The decision to renegotiate and enhance the bilateral free trade agreement reflects both nations’ focus on modernizing trade frameworks to incorporate digital commerce, AI services and next-generation industrial standards.
Analysts say updating the agreement could streamline investment flows, support joint tech ventures and strengthen supply chain resilience amid shifting global trade dynamics.
