, Singapore
139 views
Photo by Roberto Nickson via Pexels.

Korea joins digital economy agreement founded by S'pore, Chile, and New Zealand

Korea was the first member to join through accession.

The founding members of the Digital Economy Partnership Agreement (DEPA) have announced the addition of Korea as the first new member. 

DEPA was founded by Chile, New Zealand, and Singapore in June 2020. It aims to provide its members with disciplines on digital trade to boost the growth of the digital economy. It also offers a platform for collaboration on projects of mutual interest.

Korea formally applied in September 2021, while discussions on its accession led by Singapore were completed in June 2023.

Chile Undersecretary for International Economic Relations Claudia Sanhueza noted that Korea is the first member to join through an accession process. 

In a joint statement, the founding members said DEPA’s expansion “will add to the heft of the agreement and provide greater opportunities for collaboration amongst parties.”

Trade Minister Cheong Inkyo assured that Korea “will make efforts for the expansion of DEPA while acting as a bridge between founding and new members as the first non-founding member country.”

He also said his country “will lay the foundation for cooperation on the digital economy between members to ensure DEPA will serve as a platform to enhance economic partnership.” 

New Zealand Minister for Trade Todd McClay acknowledged Korea’s experience in the digital economy, adding that its accession demonstrates DEPA’s value as a pathfinder agreement for economies with high ambition for digital trade.

MORE LIKE THIS: S’pore, Canada team up to enhance S&T and innovation ties

Meanwhile, Singapore’s Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations Grace Fu said she looks forward to deepening collaborations on the digital economy with Korea.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Lorem Ipsum Singapore Business Review
The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.
Agribusiness
Lorem Ipsum 2
Contrary to popular belief, Lorem Ipsum is not simply random text.