© Reuters. Korea signs first digital partnership agreement with Singapore
South Korea signed a Digital Partnership Agreement (DPA) with Singapore on the 21st. This is the first DPA signed by Korea with another country.
Ahn Deok-geun, Trade Negotiations Headquarters of the Minister for Trade, Industry and Energy, signed the DPA between the two countries with Singapore’s Second Minister of Trade and Industry, Tan Sireng, on the same day. Both countries intend to proceed with the related procedures without a hitch with the aim of DPA coming into effect early next year. Director Ahn said, “I look forward to close cooperation between the two countries in discussing the establishment of a digital trade order in the Asia-Pacific region based on the DPA.”
The KPIs specify the operation of e-commerce, tariff-free and non-discriminatory treatment of digital products, consumer protection and cyber security. It is expected to reduce transaction costs and promote trade participation by small and medium enterprises and start-ups.
Reporter Kim So-hyun alpha@hankyung.com
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