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Economy

Staff Reporter

, Singapore

Published:

3 years ago

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Second Minister for Trade and Industry Dr Tan See Leng and the Republic of Korea (ROK) Minister for Trade Dukgeun Ahn also signed a Memorandum of Understanding on Implementing the Korea-Singapore Digital Economy Dialogue. (Photo from MTI)

SG, Korea ink partnership on digital trade

The agreement will deepen the countries’ cooperation in areas such as AI and e-payments.

Singapore and the Republic of Korea (ROK) have signed a partnership agreement to deepen their collaboration on digital trade.

Under the KoreaSingapore Digital Partnership Agreement (KSDPA), the two countries will establish forward-looking digital trade rules and norms to promote interoperability between digital systems.

The two counties will also cooperate on new emerging areas such as Personal Data Protection, E-payments, Artificial Intelligence and Source Code protection.

As part of the bilateral efforts to develop cooperative projects to implement the KSDPA, Singapore and ROK also signed a Memorandum of Understanding (MOU) on Implementing the Korea-Singapore Digital Economy Dialogue which is

“The Dialogue is intended to be a platform to promote digital economy collaboration between industry players and academic experts in Singapore and ROK,” the Ministry of Trade and Industry (MTI) said.

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