ANKARA

South Korea and Singapore have agreed to establish a "strategic partnership" which includes peace and stability on Korean Peninsula, Yonhap news reported on Monday.

The understanding was reached during a telephonic conversation between South Korean President Lee Jae Myung and Singaporean Prime Minister Lawrence Wong.

In their first official contact since Lee assumed office earlier this month, the two leaders agreed to elevate bilateral ties in a range of areas.

The two countries are celebrating the 50th anniversary of diplomatic relations this year.

"They agreed to deepen strategic cooperation in a comprehensive area, including peace and stability on the Korean Peninsula and future growth sectors, such as artificial intelligence and digital," South Korea's presidential office said in a statement.

Lee expressed hope for Wong's participation in the Asia-Pacific Economic Cooperation summit to be held in the South Korean city of Gyeongju later this year.

Wong, in return, wished for the summit to be successful and voiced hope for continued high-level exchanges.

*Writing by Aamir Latif