South Korea and Singapore Forge Strategic Partnership

South Korean President Yoon Suk Yeol announced a strategic partnership with Singapore, marking the 50th anniversary of diplomatic ties. The collaboration will focus on artificial intelligence and startups, alongside a memorandum on LNG supply cooperation to ensure international supply chain stability.

In a significant diplomatic move, South Korean President Yoon Suk Yeol has announced a strategic partnership with Singapore. This partnership coincides with the 50th anniversary of diplomatic relations between the two nations, highlighting their commitment to deeper cooperation across several domains.

President Yoon, on a visit to Singapore, revealed that the partnership will focus particularly on advancing fields such as artificial intelligence and supporting startups. This agreement is expected to foster innovation and economic growth in both countries as they harness technological advancements together.

Furthermore, Yoon highlighted the importance of a new memorandum of understanding regarding liquefied natural gas (LNG) supplies. As South Korea ranks as the world's third-largest LNG importer and Singapore serves as a major LNG hub, the agreement aims to stabilize the global supply chain amid potential crises, through methods like LNG swaps and joint purchases.

(With inputs from agencies.)