Singapore and Republic of Korea (ROK) enjoy close and longstanding relations, underpinned by frequent high-level exchanges, robust economic links, and multifaceted cooperation. 2020 marks the 45th anniversary of the establishment of diplomatic ties between the two countries. In recent years, both sides have embarked on new areas of cooperation such as smart cities, cybersecurity, fintech, advanced manufacturing and start-ups, amongst others.
A key milestone was the Korea-Singapore Free Trade Agreement (KSFTA), which entered into force in March 2006. Businesses from both sides have growing investment interests in each other’s markets. In 2019, the ROK was Singapore’s 8th largest trading partner.
Both countries also cooperate closely to deal with the challenges of COVID-19. A Reciprocal Green Lane arrangement was established in September 2020 to facilitate essential business and official travel between the two sides.