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Leaders of S. Korea, Singapore agree to enhance cooperation

All Headlines 11:55 November 14, 2017

MANILA, Nov. 14 (Yonhap) -- South Korean President and Singaporean Prime Minister Lee Hsien Loong agreed Tuesday to continue expanding their countries' bilateral cooperation, vowing joint efforts to prepare their nations for the fourth industrial revolution.

The agreement came in a bilateral summit held on the sidelines of the Association of Southeast Asian Nations (ASEAN) forum in Manila. The South Korean president arrived here Sunday as part of a three-nation trip that earlier took him to Indonesia and Vietnam, both ASEAN countries.

"While noting South Korea and Singapore have maintained close cooperative ties in various areas, including politics, economy and personnel exchange, and that they have especially developed a close partnership in the areas of infrastructure and trade, the two leaders agreed to continue their close cooperation to make sure their relationship will continue to develop," Seoul's presidential office Cheong Wa Dae said of the Moon-Lee summit.

Cheong Wa Dae said Singapore was the world's largest overseas construction market for South Korean builders except for Middle Eastern countries with construction orders clenched by South Korean firms in Singapore amounting to US$38.6 billion as of end-2016.

Moon said he hoped to see increased cooperation between the two countries in the fourth industrial revolution, noting they were both striving for industrial innovations as a way of creating new growth engines, Cheong Wa Dae said in a press release.

The Singaporean leader said there will be great opportunities for bilateral cooperation, calling South Korea a global leader in information communications technologies.

He also proposed the countries enhance their cooperation within the ASEAN framework, according to Cheong Wa Dae.

The South Korea-Singapore summit followed the Korea-ASEAN summit held Monday, involving both Moon, Lee and the leaders of nine other ASEAN countries.

Moon earlier unveiled his new foreign policy, called the New South Policy, that aims to greatly expand and strengthen his country's relations with ASEAN.

The South Korean leader asked for Singapore's support, noting Singapore was set to chair the 10-nation regional bloc next year. He also asked for Singapore and ASEAN's continued support for his country's efforts to peacefully denuclearize North Korea.

Lee said his country will continue to support South Korea for a peaceful resolution of the North Korean nuclear issue and establishment of peace on the Korean Peninsula.


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