President Lee Jae Myung and Canadian Prime Minister Mark Carney held a bilateral summit on the sidelines of the Asia-Pacific Economic Cooperation gathering in Gyeongju on Thursday, reaffirming the two nations' strategic partnership and defense ties.

The two leaders issued a joint statement after their meeting announcing the conclusion of “substantive negotiations” on an Agreement on the Protection of Military and Defence Classified Information, which they said will provide a secure and trusted framework for the exchange and protection of classified information between the two governments.

They said the agreement will provide the legal foundation for enhanced collaboration in defense procurement, defense industrial security, research, and operational coordination and is “a pivotal milestone” in the evolution of the South Korea-Canada strategic partnership.

The two leaders also welcomed the establishment of the South Korea-Canada Security and Defense Cooperation Partnership, the first of its kind for Canada in the Indo-Pacific region, to accelerate defense cooperation, improve interoperability and readiness, promote defense industry cooperation and contribute jointly to regional and global stability.

They said it will also support innovation and resilience in the defense industry and create new opportunities for workers and businesses in both countries.

The two presidents stated that in an increasingly turbulent world, South Korea and Canada are jointly committed to strengthening and diversifying their trade and defense relationships to address shared challenges.