Results of Republic of Korea-Brunei Darussalam Summit

November 24, 2019

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Prior to the ASEAN-Republic of Korea Commemorative Summit scheduled for tomorrow, President Moon Jae-in held a summit this morning with His Majesty Sultan Hassanal Bolkiah of Brunei Darussalam, who is making a state visit to Korea.

 At their summit, President Moon expressed his gratitude to Brunei for having stably supplied liquefied natural gas (LNG) to Korea over a long period. Saying, “Our two countries’ LNG cooperation is expanding into such diverse areas as the development and sales of gas reserves and other joint projects,” the President asked for Brunei’s keen interest in and support for other relevant business opportunities as well.

 In reply, Sultan Hassanal Bolkiah said that he looked forward to bilateral cooperation branching out beyond collaboration in LNG supply into various other areas, including petrochemical plants, prompting investments by numerous Korean businesses.

 Welcoming the signing of an “MOU on smart city cooperation,” President Moon said, “I know that Brunei is planning to create a smart city in the Kampong Ayer region with its well-preserved, 600-year-old tradition of floating houses. Seoul has many things in common in that it is also a smart city where a 600-year history coexists with state-of-the-art technology.” The President gave high marks to the potential for cooperation between the two countries.

 Noting that Korea is a leading country in ICT and innovation technologies, Sultan Hassanal Bolkiah said that he would encourage the strengthening of bilateral cooperation in preparation for the Fourth Industrial Revolution. His Majesty also welcomed today’s signing of the MOUs on cooperation in ICT, e-government and smart cities.

 President Moon asked for Brunei’s steadfast support to ensure that complete denuclearization and permanent peace can materialize on the Korean Peninsula as soon as possible. Sultan Hassanal Bolkiah replied that the ASEAN Regional Forum – in which North Korea participates – will be a useful platform to promote dialogue, adding that Brunei will stand close by to help with the denuclearization of the Korean Peninsula.

 Highly praising the signing of the RCEP agreement in early November, President Moon said, “Our two countries should make concerted, proactive efforts to include India as much as possible so that the final conclusion and signing can take place by 2020.” Expressing agreement, Sultan Hassanal Bolkiah said that the RCEP will increase the number of people benefitting. He also said he is looking forward to the final signing next year since the importance of multilateral trade was confirmed during the conclusion at that time.

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