President Moon Jae-in met with Singapore's Prime Minister Lee Hsien Loong on the sidelines of regional gatherings in the Philippines on Tuesday for discussions on the two countries' bilateral relationship.

During their meeting in Manila, the leaders assessed the close cooperation the two sides have maintained on various areas, including politics, economy and personnel exchanges, and agreed to continue working together to advance their ties.

Noting that both countries have an interest in innovative growth via new growth engines in the era of the fourth Industrial Revolution, Moon said Seoul hopes to work together on Singapore’s Smart Nation initiative.

Lee emphasized that South Korea and Singapore have a lot of room for cooperation, emphasizing they will closely cooperate, not only bilaterally, but also multilaterally through ASEAN.