Korea, Singapore sign Digital Partnership Agreement
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Korea, Singapore sign Digital Partnership Agreement
  • Kevin Lee 기자
  • 승인 2022.11.26 07:50
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Korea-Singapore FTA served as the groundwork for Korea’s vast FTA network establishment

Minister for Trade Ahn Duk-geun met with Singapore’s Second Minister for Trade and Industry Tan See Leng in Singapore on Nov. 21 and signed the Korea-Singapore Digital Partnership Agreement (KSDPA).

The KSDPA was settled in December 2021, followed by a legal examination and deliberation process. Signing of the KSDPA concludes the two countries’ negotiation procedures.

Minister for Trade Ahn Duk-geun (second from left) shakes hands with Singapore’s Second Minister for Trade and Industry Tan See Leng in Singapore on Nov. 21. They signed the Korea-Singapore Digital Partnership Agreement (KSDPA).
Minister for Trade Ahn Duk-geun (second from left) shakes hands with Singapore’s Second Minister for Trade and Industry Tan See Leng in Singapore on Nov. 21. They signed the Korea-Singapore Digital Partnership Agreement (KSDPA).

One of the key accomplishments of this year’s ASEAN summit meetings, the KSDPA is regarded as Korea-ASEAN trade cooperation strategy put into practice to lead the regional trade order and expand digital economic collaboration, starting with ASEAN’s digital hub Singapore.

Trade Minister Ahn remarked in the signing ceremony that the “central axis of global trade order is shifting from previous issues of opening up the products and services market to more diverse issues of solidarity and cooperation, which are directly linked to digital economy, supply chain, carbon neutral and overall industry competitiveness.”

He noted that “Korea-Singapore FTA was Korea’s second FTA, and just as it served as the groundwork for Korea’s vast FTA network establishment, the KSDPA will likewise serve as the model and stepping stone in Korea’s expanding digital trade network.”

The trade chief added that “He looked forward to closer cooperation in the discourse for setting the digital trade order in the Asia-Pacific region, such as building a broader DEPA network and furthering IPEF digital negotiations.”


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