RoK President Moon Jae-in (3rd from R) and Singaporean Prime Minister Lee Hsien Loong (3rd from L) at the talks on July 12 (Source: Yonhap)

Hanoi (VNA) - President of the Republic of Korea (RoK) Moon Jae-in and Singaporean Prime Minister Lee Hsien Loong have agreed to further strengthen bilateral economic and diplomatic cooperation, while working together to promote free trade and peace in the region.

The leaders reached the consensus at their bilateral talks on July 12, which took place in the framework of Moon’s ongoing State visit to Singapore.

They agreed to continue expanding exchange of human resources and young labourers, while expressing their belief that the friendship and cooperation between the two countries’ people are the most important foundation for the development of bilateral cooperation.

During the talks, the two sides discussed measures to peacefully denuclearize the Korean Peninsula, and shared their views on cooperation between the RoK and Singapore in the process to bring peace and prosperity to the region.

Moon and Lee also pledged to push collaboration in energy and startup, and development of new industrial fields, affirming that the two countries are crucial partners of each other in the 4th industrial revolution.

They witnessed the signing of a Memorandum of Understanding on cooperation in new technology and market development in third countries.

Before the talks, Moon had a meeting with his Singaporean counterpart Halimah Yacob, during which the two sides agreed to boost the bilateral relations and joint efforts to ensure peace in the region where they share interests.

The RoK president called for expanding cooperation between the two countries in the field of artificial intelligence, big data processing, financial technology services, biology, and pharmacy, through joint research projects, and technology and experience sharing.

For his part, Halimah applauded the RoK’s New South Policy under which Seoul wants to improve diplomatic and economic ties with Asian nations, including ASEAN.

He affirmed that Singapore will back the RoK’s efforts to accelerate the denuclearization on the Korean Peninsula.

Moon is on a three-day visit to Singapore from July 11, which is the first state-level visit of a RoK President to Singapore over the last 15 years.-VNA