SINGAPORE: Singapore and South Korea will upgrade an existing Free Trade Agreement (FTA) to ride on strong growth of trade and economic ties between the two countries, said Prime Minister Lawrence Wong.
Speaking at a joint press conference with visiting South Korean President Lee Jae Myung on March 2, Wong noted that the global trading landscape has evolved significantly over the last two decades with greater emphasis on supply chain resilience, digital trade and the green transition, making the upgrade of the two-decade-old FTA a timely one. The FTA first came into force in 2006.
