Transcript of Toast by Prime Minister Lee Hsien Loong for Dinner Hosted by ROK President Park Geun Hyeon at the Blue House, Seoul, Korea

President Park Geun-hye

Distinguished guests, ladies and gentlemen

I would like to thank President Park for your warm and gracious hospitality towards me and my delegation. Relations between Singapore and Korea go back a long way as the President pointed out. Back in 1979, Mr Lee Kuan Yew visited Korea and struck up a friendship with President Park Chung-Hee. Since then, we have exchanged many visits, and our ties have prospered. I am therefore delighted to be back in Seoul to continue our close friendship with President Park.

Singapore and Korea share many things in common. We were both “Asian Tigers”, benefitting from, and contributing to, the peace and stability in the region. Korea has been transformed by the “Miracle on the Han River”, and is now a proud member of the OECD. Singapore has also made rapid progress, though on a smaller scale.

Our bilateral cooperation is excellent. Economic relations are strong and growing. Many Singaporean companies are venturing into Korea, including F&B companies like Bee Cheng Hiang and Ya Kun, and fashion company Charles & Keith. Many Korean companies are in Singapore too, such as AmoréPacific and Samsung, which I am visiting tomorrow.

But cosmetics and electrical goods are not Korea’s only exports to Singapore. Hallyu, or the Korean Wave, is another. Huge numbers of young and also not-so-young Singaporeans are fans of K-Pop. There is also one young Singaporean, a talented young lady who the lead singer in a K-Pop group. Her name is Tasha, and the group is SKarf. She is here with us this evening. Apart from K-Pop, K-Drama also has a large following, including amongst them, my wife. Quite a few Singaporeans are learning Korean here, having been inspired by drama serials like Dae Jang Geum (Jewel in the Palace) or the pop group Girls’ Generation.

The economies and societies of both Singapore and Korea are undergoing major transitions. We are adapting to our changed circumstances and a more uncertain global environment. Singapore is feeling a new way forward, to create opportunities for all our citizens, to strengthen social safety nets for the vulnerable and elderly, and to keep our society open and mobile to every person regardless of family background. Korea too is moving towards a new era of hope, underpinned by a creative economy, flourishing culture and personal happiness. We have much to learn from each other. I am therefore glad to enhance our bilateral cooperation in areas such as R&D, education, and aviation. These will pave the way for even closer ties in future.

Our future depends not only on our own efforts, but also on the world around us. Korea is in Northeast Asia, while Singapore is in Southeast Asia, hence our strategic perspectives are not identical. But we share an important interest in a peaceful and stable Asia Pacific and also a peaceful and stable Korean Peninsula. Singapore wishes Korea and its neighbours well. Although there are difficult issues to handle in Northeast Asia, we hope that countries will manage them peacefully and in a spirit of mutual trust. This will benefit the entire region and the world.

Singapore strongly supports Korea’s engagement of ASEAN, as this will enhance our mutual dependence and prosperity. I look forward to visiting Korea again next year for the ASEAN-Korea Commemorative Summit. Singapore also looks forward to working with Korea to follow up on the many items which I discussed with the President at our very good meeting this afternoon. A clear sense of direction as well as a full agenda of concrete deliverable items will take the relations between Singapore and Korea and between ASEAN and Korea to new heights. We also welcome Korea’s active participation in the Regional Comprehensive Economic Partnership (RCEP) and its interest in joining the TPP negotiations. Liberalisation of trade, investments and air services will benefit Korea as well as your partners throughout Asia.

Distinguished guests, ladies and gentlemen, I propose a toast to your good health and to the good health of President Park, and to the continued success of Korea, and to the friendship between our peoples.