Joint Press Release by Ministry of Trade and Industry, Ministry of Communications and Information and Infocomm Media Development Authority

1. Singapore and the Republic of Korea (ROK) have concluded negotiations on the Korea-Singapore Digital Partnership Agreement (KSDPA). Second Minister for Trade and Industry Dr Tan See Leng and ROK’s Minister for Trade Yeo Han-Koo jointly announced this today at the Joint Ministerial Meeting in Singapore.

2. The KSDPA will be Singapore’s fourth Digital Economy Agreement (DEA)1, and the first with an Asian country. The agreement will deepen bilateral cooperation in the digital economy between both countries, by establishing forward looking digital trade rules and norms to promote interoperability between digital systems. This will enable more seamless cross-border data flows and build a trusted and secure digital environment for our businesses and consumers.

3. The KSDPA will prohibit data localisation except for specific purposes such as regulatory access. This allows businesses to transfer data securely as part of their daily business operations and allows businesses to choose where they may wish to store and process their data, according to their business needs. It will also deepen bilateral cooperation in new emerging areas like Personal Information Protection, E-payments, and Source Code protection. ROK and Singapore will also identify cross-border opportunities to facilitate Artificial Intelligence innovation and collaborations. The DEA will complement Singapore’s efforts to develop multilateral rules to create an enabling environment for e-commerce as co-convenor of the World Trade Organization Joint Statement Initiative on E-commerce.

4. Dr Tan See Leng said, “I welcome the conclusion of the Korea- Singapore Digital Partnership Agreement. It will strengthen the digital connectivity between Singapore and the Republic of Korea, and add to our already robust economic ties. By aligning standards, enabling trusted data flows and allowing cross border digital transactions to take place more seamlessly, the KSDPA will open up opportunities for our businesses and people in the rapidly growing digital economy.”

5. Singapore and ROK enjoy strong economic ties. Singapore was ROK’s 8th largest trade partner in 2020, with bilateral trade reaching S$44.6 billion. As of end-2019, Singapore was ROK’s 9th largest investor in Asia, with about S$8.37 billion worth of investments recorded in ROK. ROK was Singapore’s 6th largest source of investments in Asia, with a cumulative direct investment of S$23.7 billion.

6. The KSDPA is part of a series of DEAs that Singapore has embarked upon. These agreements are an inter-agency effort led by the Ministry of Trade and Industry, Ministry of Communications and Information, and the Infocomm Media Development Authority, to advance collaboration in the digital economy and enhance digital connectivity.

--------------------------------------------------------------------------------------------------------------------------

1 The KSDPA follows the Digital Economy Partnership Agreement with Chile and New Zealand, the Singapore-Australia DEA, and the UK-Singapore DEA.

Annex A: Key Features of the Korea-Singapore Digital Partnership Agreement 
Opening Remarks by Mrs Josephine Teo, Minister of Communications and Information, at Graduation Ceremony and Launch of New Initiatives for ‘Upskill 2022’ , on 14 June 2022 Speeches Digital Readiness, Infocomm Media 14 Jun 22
The United Kingdom-Singapore Digital Economy Agreement Enters into Force Press Releases Infocomm Media 14 Jun 22
Transcript of speech by Mrs Josephine Teo, Minister for Communications and Information, at the Singapore Press Club's 50th Anniversary Press Ball, on 10 June 2022 Speeches Public Comms, Infocomm Media 10 Jun 22
Transcript of speech by Mrs Josephine Teo, Minister for Communications and Information, at Singapore Book Fair 2022 and Youths Help Seniors Go Digital Workshop on 5 June 2022 Speeches Infocomm Media, Libraries 05 Jun 22
Speech by Senior Minister of State Dr Janil Puthucheary, at the Opening of the Quantum Technology Summit, TechXLR8 Asia (part of Asia Tech x Singapore 2022), on 1 June 2022 Speeches Infocomm Media 01 Jun 22
Speech by Senior Minister of State Dr Janil Puthucheary, at the Opening of ATxEnterprise Industry Headliners Stage (Part of Asia Tech x Singapore 2022) on 1 June 2022 Speeches Infocomm Media 01 Jun 22
Transcript of speech by Parliamentary Secretary for Communications and Information, Ms Rahayu Mahzam, at InnovFest x Elevating Founders (ATxImpact) on 1 June 2022 Speeches Infocomm Media 01 Jun 22
Speech by Mrs Josephine Teo, Minister for Communications and Information, at the SGTraDex Product Launch, on 1 June 2022 Speeches Infocomm Media 01 Jun 22
Keynote Address by Mrs Josephine Teo, Minister for Communications & Information and Minister-in-charge of Smart Nation, at the ATxAI Conference on 1 June 2022 Speeches Infocomm Media 01 Jun 22
Singapore launches world’s first AI testing framework and toolkit to promote transparency; Invites companies to pilot and contribute to international standards development Press Releases Infocomm Media 26 May 22
Opening Speech by Mrs Josephine Teo, Minister for Communications and Information, at the Official Opening of the National Integrated Centre for Evaluation, on 18 May 2022 Speeches Cyber Security 18 May 22
Speech by Dr Janil Puthucheary, Senior Minister of State for Communications and Information, at the MOU Signing between Singapore Women in Tech and Polytechnics and launch of Cross-Polytechnic Girls in Tech Committee, on 13 May 2022 Speeches Infocomm Media 13 May 22
Opening Address by Dr Janil Puthucheary, Senior Minister of State for Communications and Information, at Inaugural Association of Information Security Professionals (AISP) Internet-of-Things (IOT) Innovation Day 2022 Speeches Infocomm Media 11 May 22
MCI response to PQ on Tracking of Local Companies which Experienced Cyber Attacks over Past Two Years and Measure to Equip Companies with Capabilities to Enhance Cyber Resilience Parliament QAs Cyber Security 09 May 22
MCI response to PQ on Annual Projected Growth of Freelancers in Infocomms Technology and Media Industries from 2022 to 2025 Parliament QAs Infocomm Media 09 May 22
MCI response to PQ on Number of Overseas Scam Calls Reported in 2021 and 2022 and Viability of Call Blocking Option for Users Parliament QAs Cyber Security 09 May 22
MCI response to PQ on Response to Recent REACH Survey on Attitudes Towards LGBTQ and Considerations Behind Survey Questions Parliament QAs Others 09 May 22
Speech by Mrs Josephine Teo, Minister for Communications and Information, at SCS Tech Leader Awards on 6 May 2022 Speeches Infocomm Media 06 May 22
Speech by Dr Janil Puthucheary, Senior Minister of State, Ministry of Communications and Information at the launch of Oneberry Technologies’ Regional HQ on 6 May 2022 Speeches Others 06 May 22
Opening Remarks by Dr Janil Puthucheary, Senior Minister of State, Ministry of Communications and Information at the Launch of the “3M Girls Can Tinker” Initiative on 28 April 2022 Speeches Infocomm Media, Government Technology 29 Apr 22
Remarks by Mrs Josephine Teo, Minister of Communications and Information, at SingPost Buka Puasa Event on 20 April 2022 Speeches Infocomm Media 21 Apr 22
Opening Remarks by Mrs Josephine Teo, Minister of Communications and Information, at the launch of Tamil Cholai on 16 April 2022 Speeches Libraries 16 Apr 22
Keynote Speech by Mrs Josephine Teo, Minister of Communications and Information, at the World AI Cannes Festival on 14 April 2022 Speeches Others 14 Apr 22
Singapore and Indonesia Reaffirm Commitment to Stronger Digital Cooperation to Leverage Opportunities in the Digital Economy Press Releases Infocomm Media 12 Apr 22