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Moon holds bilateral summit with Singapore PM Lee, holds joint press conference Updated: 2018-07-12 14:31:27 KST

South Korean President Moon Jae-in kicked off his first full day in Singapore on this Thursday.
He received an official welcome by President Halimah Yacob at the presidential palace as he began his state visit to Singapore.
Our chief Blue House correspondent Moon Connyoung joins us live from Singapore. Connyoung, what can you tell us?

Like you said Devin after receiving an official welcome at the Istana, welcomed by a guard of honor President Moon held a bilateral summit with the Prime Minister of Singapore Lee Hsien Loong.
The two leaders agreed to further strengthen the countries' economic and diplomatic cooperation while also working to promote free trade and peace in their region.

"Our two countries have worked toward the common goal of free, open economy and regional peace and stability."
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During their one-on-one which was followed by a joint news conference, the two leaders agreed to first expand the countries' exchange of people which came to roughly 850-thousand in 2017.

The two nations will also expand trade which stands at around 20 billion U.S. dollars and further encourage investment by quickly concluding talks on revising the double taxation agreement.
They're also seeking new business opportunities in building new smart cities in other nations including the nine other members of the ASEAN.

The two leaders also witnessed the exchange of several Memoranda of Understanding to boost cooperation in the areas of trade, environment, small and medium enterprises and start-ups.

Did the two leaders discuss security-related issues as well?

Also dominating the Moon, Lee summit was the latest developments on the Korean Peninsula as the two leaders discussed ways to peacefully denuclearize North Korea as their meeting comes on
the heels of a historic summit between North Korean leader Kim Jong-un and U.S. President Donald Trump here in Singapore on June 12th.

"I have followed the events with close attention for some of them happened in Singapore and we wish you all the best in developing stability and prosperity and denuclearization on the Korean Peninsula."
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The details of those talks haven't been released just yet but we will have more updates in our later newscast, Devin.
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