State visit to Singapore: Yoon focuses economic exchanges with the Asian powerhouse

윤대통령 싱가포르 국빈방문에서 공급망 대응, LNG 수급 등 경제 협정 맺어

We start in Singapore today where President Yoon Suk Yeol is actively engaged in the second leg of his Southeast Asia tour.
I have our correspondent Kim Do-yeon who is part of the presidential press corps standing by live with details.
Do-yeon do start us off.

Sun-hee, President Yoon landed here in Singapore late last night and started his official engagements earlier today.
President Yoon and Prime Minister Wong signed various agreements to forge stronger ties, especially in the economic sector.
First, let's take a listen to what the two leaders said about the bilateral relationship overall.

"Our two countries have many things in common. We were both Asian tigers that successfully transformed our economies. Korea, of course, has done this on a much bigger scale. You have one of the world’s largest economies, powered by innovative chaebols, SMEs, and startups, as well as a trendsetting culture that has taken the world by storm."

Now, to get into the specifics the most notable agreement the two made was the Supply Chain Partnership Arrangement.
This is the first bilateral agreement specifically for supply chain disruption response for both nations.
The two nations will get together to hold an emergency meeting within five days of the moment they identify such a situation.
For example, we saw a few years ago a global urea water shortage causing concerns over the operation of diesel vehicles in South Korea.
Singapore is a global logistics hub with the second largest port in the world, so this agreement will allow South Korea to resolve such natural resource supply issues.
Also, the two leaders agreed to liquefied natural gas cooperation.
This paves the way for the two nations to swap or jointly buy LNG supplies.
The two nations are big in LNG exports despite having no natural reserves.

Right.
Do-yeon come next year the two countries celebrate their 50th anniversary of diplomatic relations and I hear their leaders have agreed to further elevate their ties.
Do tell us more.

That's right, Singapore as we saw just yesterday from the Philippines, South Korea's level of diplomatic relations with South East Asian countries is getting higher overall but the strategic partnership with Singapore will kick off next year in light of the 50th anniversary of diplomatic relations.
Now, take a look at what's being prepared.

The two leaders signed an MOU for advanced technology cooperation and another for start-up cooperation.
Singapore is one of the world's powerhouses for AI while having strong biomedical industry.
South Korea is strong in manufacturing cars and electronics and chips so according to the top office, the synergy effect for this will be big.
And, as President Yoon said, this is what the next phase of the bilateral relationship will be based on.
Meanwhile.. a total of 17 agreements were signed by the two nations.
Now, President Yoon still has one more day in Singapore.
Before wrapping up his visit he will also take part in the distinguished Singapore Lecture series organized by a leading think tank,.. ISEAS-Yusof Ishak Institute to introduce Korea’s Indo-Pacific strategy, the country's cooperation with ASEAN, and the prospect for peace and prosperity in the region, if his vision of Korean Unification is achieved.
That's all for now back to you.

All right Do-yeon thank you for that coverage.
That was our top office correspondent Kim Do-yeon reporting live from Singapore the second leg of President Yoon's Southeast Asia tour.

#SouthKorea #Singapore #President #YoonSukYeol #Statevisit #대한민국 #싱가포르 #대통령 #윤석열 #국빈방문 #경제협정 #Arirang_News #아리랑뉴스

📣 Facebook :   / arirangtvnews  
📣 Twitter :   / arirangtvnews  
📣 Homepage : https://v2.arirang.com/

2024-10-08, 17:00 (KST)