AI becomes a shared growth engine for Singapore-South Korea cooperation

At the Korea-Singapore AI Connect Summit, President Lee Jae-myung announced a US$300 million global fund to be raised in Singapore by 2030, designed to power the global expansion of AI firms from both countries. Joint international research and talent programmes start next year, alongside a private-sector-led AI Alliance. Seven MOUs on AI research and business cooperation were signed. Both countries share a common DNA — overcoming small landmass and limited natural resources through innovation. Lee aims to make Korea one of the world's top three AI powers.

Foreign Minister Vivian Balakrishnan said the advantage for Korea and Singapore lies not in building the largest frontier LLMs but in deploying and adopting AI responsibly across society. He proposed three specific cooperation areas: trusted AI supply chains spanning data, code and deployment monitoring; open global AI standards; and interoperability so innovative services can work across borders.

Singapore already signed AI and digital cooperation agreements with Korea in 2022 and 2025. From 2025 to 2030, Singapore is investing over S$1 billion under its National AI R&D plan, with PM Lawrence Wong personally chairing the new National AI Council. More than 60 firms — including Google, Microsoft and Korea's Ellis Group — have set up AI centres of excellence in Singapore.

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South Korean President EJ Myang is in Singapore for a 3-day state visit and a topic of artificial intelligence is high on the agenda. He's now speaking at the Korea Singapore AI Connect Summit where both countries are expected to outline plans to strengthen collaboration in the sector. Let's listen. >> On the stage, we will explore how we can deepen our collaboration together going forward. To set the direction of this important conversation, it's my distinct honor to invite the president of the Republic of Korea, His Excellency, President EJong for his opening remarks. Distinguished business leaders, researchers, and young innovators who are at the forefront of the AI industries of Korea and Singapore. It is such a pleasure to be here with you today.

I am deeply honored to meet all of you here at the Korea Singapore AI Connect Summit, which will open a new chapter in our two countries future. Today we stand at the center of a huge civilizational transformation driven by AI. AI has become a driving force for change that is affecting industrial frameworks, jobs and even our daily lives. It is also a strategic asset with a direct bearing on our competitiveness. That is the reason why countries around the world are making every effort to secure AI capabilities. Amid these sweeping changes, it is both inevitable and truly welcome that Korea and Singapore, nations equipped with worldclass AI capabilities, have joined hands.

Our two countries share the common experience of having overcome the constraints of limited land and natural resources through the strength of our people and technology and of having achieved prosperity through incessant innovation. Now is the time to apply the spirit of innovation embedded in our DNA to the AI industry thereby opening new horizons of digital economy. The Korean government will render its full support by ensuring that capital, technology, talent and industry are seamlessly interconnected through the AI cooperation framework which will facilitate substantive cooperation. First, we will raise $300 million US for a global fund in Singapore by 2030. This will serve as a key driving force for accelerating the global expansion of AI companies in both countries and fostering an innovationdriven ecosystem for shared growth.

We look forward to young entrepreneurs and startups from both countries sharing their spirit of challenge and passion, spearheading transformations and confidently shaping the global market. Second, we will support joint research that transcends national boundaries. Next year, we will initiate full-scale international joint research and talent programs, enabling researchers from both countries can collaborate closely and commit to developing AI technologies to tackle humanity's most challenging issues. We will support strong support to ensure that the cutting edge technologies developed through these efforts are widely applied across both societies and successfully introduced in global markets. >> Third, will promote private sectorled cooperation to further invigorate the AI industry ecosystem.

The AI alliance launched today will allow companies, universities, and startups to share knowledge and resources and collaborate, marking the beginning of an open innovation system. I believe this will become a solid foundation upon which creative ideas become reality and our young people can continue to challenge themselves and grow. Our bilateral cooperation must advance beyond simple technological exchanges and rise to the level of strategic industrial partnership by pioneering new markets based on AI and creating a broader and greater arena of opportunities for young people. We must leap forward as Asia's leading innovation hub >> for the young and talented individuals from both countries can challenge boldly, exchange freely, and design the future. Together, the Korean government will continue to be your steadfast supporter.

I hope today becomes indeed a starting point where business leaders, researchers, and young people from both countries communicate openly and turn a vision of cooperation into concrete action. I am truly confident that the sheer growth of Korea and Singapore will open an age of AI exploration that sets the course for the global AI industry beyond Asia and across the world. Thank you. >> [applause] >> Thank you, Mr. President, for sharing your clear vision of AI cooperation between Korea and Singapore. And now we'll invite Singapore's Minister for F for Foreign Affairs, Dr. Vivian Balak Krishna to deliver his remarks. Minister, the floor is yours. >> Thank you, Your Excellency, President YJ Mun, Deputy Prime Minister, Minister for Science and ICT, Mr.

Bay Hun, Minister for Foreign Affairs Cho Hun, Minister for SMMES and Startups, Miss Han Suk Suk, distinguished guests, colleagues, ladies, gentlemen. Good afternoon and thank you for giving me this opportunity to attend the AI Connect Summit hosted by the Korean Ministry of Science and ICT. Once again, I want to bid a very warm welcome to President Yei and his delegation. He had a very very busy morning. He met my president Tama Shamukuram and of course my prime minister as well Mr. Lawrence Wong and I can let you in on a state secret. AI was very high on the agenda. Both Singapore and the Republic of Korea see AI as a transformative force for our future.

For Singapore, AI can help transcend our constraints as a small city state without natural resources and will help us to capitalize on our position as a trusted connected global hub for Korea which has a considerable innovation ecosystem which will drive AI development and we see Korea as one of the world's foremost tech powerhouses. President E has announced the goal of making Korea one of the world's top three AI powers and I believe ROK will succeed in fulfilling that ambition. We both recognize the potential to address common challenges confronting both our societies including aging populations, shrinking workforces and evolving job markets. But we also believe both Korea and Singapore also believes in importance of a trusted AI ecosystem.

For Korea and Singapore, our advantage does not lie does not necessarily lie in building the largest or the latest frontier LLM or large language model but actually in deployment and adoption of AI extensively, responsibly, effectively and across the entire society. That's how you get inclusive development which I know President Lee is very focused on. This requires collaboration between policy makers, industry and the scientific community. And we see ourselves in Singapore as a trusted hub where companies can develop, can test and can deploy impactful AI solutions. More than 60 firms including global leaders like Google and Microsoft has have set up AI centers of excellence in Singapore. These help to create good jobs. They also attract other companies with expertise in AI, telecommunications and manufacturing.

I'm also glad that there are Korean companies with significant AI operations in Singapore, including the Ellis Group which is here with us today. In fact, they've got a display just outside the room. and we welcome other Korean companies who are looking to expand their footprint in Southeast Asia take the first step in Singapore. Let me suggest three specific areas where the Republic of Korea and Singapore can consider. First, to develop trusted supply chains. Second, to help in the formulation of open global standards for AI. And third, interoperability of AI systems. On the first part, trusted AI supply chains from data to code to deployment monitoring. We believe that this both accelerates innovation as well as strengthens accountability and trust.

Open standards are essential so that the world can work collectively on a common application stack and to help to accelerate research, innovation and progress in AI as a whole and interoperable standards will ensure that as new and innovative services and products are created, it can work across borders and will also have access to a global market. I think in these three areas of trusted supply chains, open and standards and interoperability, the Republic of Korea and Singapore can play a meaningful role. Each of these areas requires mutual trust and between the Republic of Korea and Singapore, we have upgraded our relationship to a strategic partnership and we believe that you are an optimal and ideal partner for us to have.

Our agreements on AI and digital cooperation which were signed in 2022 and 2025 respectively establish a shared vision for us to cooperate in transparent and accountable AI systems. And on Singapore's part, you know that we're making a coordinated national effort. The prime minister himself, Mr. Lawrence Wong, has established a national AI council to provide strategic direction and to drive Singapore's AI agenda. And Prime Minister Wong himself is in charge of this council. The Singapore government is also investing over a billion Singapore dollars between 2025 to 2030 under the National AI research and development plan which will focus on both fundamental and applied AI research and AI talent development. We hope to work with and to leverage career strength and expertise in these sectors to create mutual synergies.

So today's summit is a meaningful step in the right direction. It's more than a meeting of minds. It represents us building a bridge. A bridge between two innovative ecosystems. Singapore's role as a trusted hub in the heart of Southeast Asia. Korea's technological leadership. I believe this creates powerful opportunities for collaboration. So, Mr. President, we will work as strategic partners. We will push the boundaries of what is possible. We will harness AI for the good of all people, not just for our two countries, but for the world. So, I look forward to the fruitful and meaningful discussions later this afternoon. Thank you all very much. >> Thank you, Minister, for your affirming Singapore's commitment to working towards closer AI collaboration with Korea based on trust and strategic partnership.

With that, let's begin our discussion on the Korea Singapore AI partnership. That was South Korean President EJ Mang and Singapore Foreign Minister Dr. Vivian Balak Krishna speaking at the Korea Singapore AI Connect Summit. Now let's bring in CNA's Grace Shin to help us unpack the speech. She joins us live from the Shangriila Hotel in Singapore where the event is taking place. base. >> Well, Paul, strategic partnership in AI cooperation has been accentuated here at the Korea Singapore AI Connect Summit, where both framed artificial intelligence as a shared growth engine for both economies. President EJ Mill emphasized that South Korea and Singapore have overcome structural constraints through innovation and said it's now time to apply that same spirit to AI, not just as technology policy, but as economic strategy. Substantively, Mr.

Lee announced the launch of a Korea Singapore AI cooperation framework, including a 300 million US global fund to be established in Singapore by the year of 2030. That is along with expanded joint research initiatives and seven signed memorandums of understanding covering AI research and business cooperation. Also from the Singapore side, we heard emphasis on practical deployment applying AI across sectors and strengthen governance frameworks to ensure trusted adoption. Now what emerges here is a complimentary structure. South Korea brings industrial scale whether it be semiconductors, manufactur AI and large scale compute expansion. Whereas Singapore can bring regulatory clarity, captable connectivity and experience and applied AI within smart infrastructure environments. Then the question now is how those strengths can combine.

Earlier I spoke to South Korea's ICT minister who outlined how the two sides see what synergy can develop. AI transformation. So the summit really highlighted how the two countries are trusting each other when it comes to AI, a very big expansive industry that both countries are trying to be trusted partners at. Back to you, Paul. >> Thanks for that, Grace.