South Korea's Lee holds summit with Singapore's Wong on AI, tech cooperation

South Korean President Lee Jae Myung met Singapore's Prime Minister Lawrence Wong on Monday for a summit aimed at expanding cooperation in fields such as artificial intelligence and nuclear energy, during a state visit to the city-state.



At a joint press conference, Lee and Wong announced the start of negotiations to upgrade the countries' existing free trade agreement, which took effect in 2006.



The countries also signed five memoranda of understanding (MOUs) for cooperation in fields such as small modular reactors (SMRs) for nuclear power generation, AI and other scientific fields such as quantum and space satellites, South Korea's Blue House said.



Other partnerships will include cooperation on investment between Singapore's sovereign wealth fund Temasek and its asset management unit Seviora Group with state-run Korea Development Bank, Lee told the press conference.



Wong and Lee exchanged views on the impact of the situation in the Middle East, including on global security, energy, and supply chains, and agreed on their hope that stability and peace would be restored, Lee said.