SEOUL (Reuters) – South Korean President Yoon Suk Yeol said his country has agreed with Singapore to enter into a strategic partnership next year, the 50th anniversary of the two nations setting up diplomatic relations.
Yoon, who is visiting Singapore for a summit with Singapore’s Prime Minister Lawrence Wong, said in a televised address that the two nations will deepen cooperation in fields such as artificial intelligence and startups under the strategic partnership.
South Korea, the world’s No.3 importer of liquefied natural gas (LNG), and Singapore, an LNG hub, also signed a memorandum of understanding on Tuesday for cooperation in LNG supplies, which will contribute to the stability of the international supply chain, Yoon said.
The cooperation could include LNG swaps, joint purchases, and cooperation in response to any LNG supply chain crises.
(Reporting by Joyce Lee; Editing by Muralikumar Anantharaman, Ed Davies)
