The Prime Minister, Mark Carney, met with the President of the Republic of Korea, Lee Jae Myung, in Gyeongju, Republic of Korea.

Prime Minister Carney thanked President Lee for his leadership as Chair of the Asia-Pacific Economic Cooperation (APEC) for 2025. The leaders discussed the productive economic relationship between Canada and Korea, noting the 10^th anniversary of the Canada-Korea Free Trade Agreement (FTA). Since the FTA’s implementation, bilateral trade has nearly doubled, and nearly all of Canada’s exports to Korea have tariff-free access to the Korean market. The leaders discussed opportunities to expedite the removal of any remaining tariffs.

During the meeting, the leaders announced the new Canada-Republic of Korea Security and Defence Cooperation Partnership. This agreement will reinforce collaboration in defence, military readiness, and industrial collaboration focused on the defence, maritime security, and aerospace sectors. They also announced the conclusion of negotiations for the General Security of Information Agreement to support further defence industry cooperation.

The Prime Minister discussed Canada’s ambitious new mission to double its non-U.S. exports in the next decade and the core strategy of Budget 2025 to catalyse unprecedented levels of new investments into Canada. The leaders affirmed their commitment to deepen bilateral trade and investment, including in energy, agri-food products, critical minerals, and defence. To that end, the Prime Minister announced the upcoming Team Canada Trade Mission to Korea in 2026.

Prime Minister Carney and President Lee agreed to remain in close contact.

Joint statement by Prime Minister Mark Carney of Canada and President Lee Jae Myung of the Republic of Korea

We, Prime Minister Mark Carney of Canada and President Lee Jae Myung of the Republic of Korea, met today in a bilateral meeting on the sidelines of the Asia-Pacific Economic Cooperation Economic Leaders’ Meeting in Gyeongju, Korea, to announce a new and ambitious roadmap to deepen our bilateral cooperation on security, defence and intersecting strategic domains, including cyber, space and hybrid threats.

Reaffirming the enduring strength and vitality of the Canada-Korea Comprehensive Strategic Partnership in a rapidly shifting global landscape, and building on the inaugural Foreign and Defence (2+2) Ministerial Meeting in November 2024, the leaders welcomed the establishment of the Canada-Korea Security and Defence Cooperation Partnership, the first of its kind for Canada in the Indo-Pacific. This landmark partnership provides a clear, action-oriented framework for accelerating defence cooperation, enhancing interoperability and readiness, strengthening defence industrial cooperation, and jointly contributing to regional and global stability. It will support efforts to advance a free, open, and rules-based Indo-Pacific region, support innovation and resilience in defence industries, and create new opportunities for Canadian and Korean workers and businesses.

In addition, the leaders announced the conclusion of substantive negotiations on an Agreement on the Protection of Military and Defence Classified Information, which will provide a secure and trusted framework for the exchange and protection of classified information in support of deepening defence, security, and defence industrial cooperation. Upon entry into force, the Agreement will provide the legal foundation for enhanced collaboration in defence procurement, defence industrial security, research, and operational coordination–marking a pivotal milestone in the evolution of Canada–Korea strategic partnership.

In an increasingly turbulent world, Canada and Korea are jointly committed to strengthening and diversifying our trade and defence relationships to address shared challenges. We recognize that threats to our security and prosperity are more interconnected than ever before and reaffirm our resolve to deepen cooperation as strategic partners in defence and security.