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Singapore, Republic of Korea Sign Digital Partnership Agreement

The Second Minister for Trade and Industry, Tan See Leng, and the Republic of Korea (RoK) Minister for Trade, Dukgeun Ahn, have signed the Korea-Singapore Digital Partnership Agreement (KSDPA).

Under the agreement, the two sides will work to establish 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 businesses and consumers. A government press release wrote that KSDPA will also deepen bilateral cooperation in new emerging areas such as personal data protection, e-payments, artificial intelligence, and source code protection.

The Ministers also signed a memorandum of understanding (MoU) on Implementing the Korea-Singapore Digital Economy Dialogue, which will act as a platform to promote digital economy collaboration between industry players and academic experts from both sides. The MoU is part of bilateral efforts to develop cooperative projects to implement the KSDPA. Key features of the KSDPA include:

Facilitating end-to-end digital trade

Electronic Payments (e-payments): The two sides will adopt transparent and facilitative rules (e.g. encouraging open Application Programming Interfaces (APIs)) to promote secure cross-border e-payments.

Paperless Trading: Singapore and RoK will accept electronic versions of trade administration documents to support the digitalisation and seamless exchange of key commercial documents.

Open Government Data: Both countries will ensure that government data will be publicly available in a machine-readable and open format, with easy-to-use and freely available APIs.

Enabling trusted data flows

Cross-border Data Flows (including for financial services): Businesses in Singapore and RoK will be allowed to transfer information, including those which are generated or held by financial institutions, across borders if the requisite regulations are met and with adequate personal data protection safeguards in place.

Prohibiting Data Localisation: The two nations will establish rules against data localisation requirements so that businesses can choose where their data is stored and processed, and their cloud technology of choice.

Facilitate trust in digital systems and participation in the Digital Economy

Artificial Intelligence (AI): The countries will promote the adoption of AI governance and ethical frameworks that support the trusted, safe, and responsible use of AI-based technologies.

Cryptography: Neither country will require the transfer of or access to private keys and related technologies, as a condition of market access.

Source Code Protection: To ensure software developers can trust the market within which they operate and ensure that source code is protected, neither country will require the transfer of, or access to, source code as a condition of market access. This includes the algorithm expressed in the source code.

Online Consumer Protection: The two sides will adopt laws that guard against fraudulent or deceptive conduct that causes harm to consumers engaged in online commercial activities.

Small and Medium Enterprises Cooperation: Singapore and RoK will promote jobs and growth for SMEs. They will also encourage their participation in platforms that help link them with international suppliers, buyers, and other potential business partners.

Digital Identities: The countries will promote interoperability of digital identity regimes, which can lead to reliable identity verification and the faster processing of applications. This will enable businesses and consumers to navigate the digital economy with ease and security.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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