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Singapore, South Korea sign digital partnership accord
Kind: ICD What's New  Organization: Department of International Cooperation  Publish Date: 2022-11-28 15:33
Singapore and South Korea signed a bilateral Digital Partnership Agreement on Nov. 21, 2022, under which the two sides will work together to establish digital trade rules and norms to promote interoperability between their digital systems.

The accord will deepen bilateral cooperation in new emerging areas, such as personal data protection, e-payments, artificial intelligence and source code protection, which will enable more seamless cross-border data flows and build a trusted and secure digital environment for both businesses and consumers.

South Korean Minister for Trade Dukgeun Ahn, who signed the accord with Singaporean Minister for Manpower and Second Minister for Trade and Industry Tan See Leng, said that openness and innovation have enabled rapid economic development of Korea and Singapore, adding that the accord will lay the foundation for the two countries to expand their digital trade networks and jointly shape the foundation of digital trade rules in the Asia-Pacific region.

Both ministers also signed a memorandum of understanding on the launch of the "Korea-Singapore Digital Economy Dialogue" on the same day. The Dialogue is intended to serve as a platform promoting digital economy collaboration between the two sides' businesspeople, scholars and experts. The two parties will expand opportunities for cross-field exchanges by organizing webinars, forums, workshops and roundtable meetings.

Since June 2020, Singapore has also signed digital economy partnership agreements with New Zealand, Chile, and Australia. In addition, Singapore and Malaysia issued a press release in late August stating they have completed substantive consultations on a digital economy cooperation framework agreement and hope to sign it by the end of this year.

Sources: Economic Division, Taipei Representative Office in the Republic of Singapore; Economic Division, Taipei Economic and Cultural Office in Malaysia; Associated Press

Update: 2020-04-23
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