South Korea and Singapore agreed on Monday to launch negotiations to upgrade their 2006 free trade agreement (FTA) and signed five memoranda of understanding, including cooperation on small modular reactors (SMRs), during President Lee Jae Myung’s state visit to the city-state. The joint declaration marks the 20th anniversary of the ROK-Singapore FTA’s entry into force and commits both sides to apply a “modular” approach to updating rules in areas such as supply chains and the green economy.

Korea Hydro and Nuclear Power (KHNP) and Singapore’s Energy Market Authority (EMA) exchanged an MOU on SMR cooperation, covering feasibility studies, workforce training