The bill for hosting the historic Trump-Kim summit will come up to about $20 million, said Prime Minister Lee Hsien Loong, adding that this is Singapore's contribution to an international endeavour that is "in our profound interest".

"It is a cost we are willing to pay," he said on Sunday, adding that security costs would account for about half of that figure.

The summit on Tuesday, the first between a sitting United States President and a North Korean leader, has the potential to set developments on the Korean Peninsula on a new path, said PM Lee.
 

"From our point of view it's important that the meeting take place, and that the meeting sets developments on a new trajectory - one that will be conducive to the security and stability of the region."

PM Lee was speaking to Singapore media on the sidelines of a visit to the international media centre at the F1 Pit Building. He earlier visited the Singapore Armed Forces troops deployed at Palawan Kidz City on Sentosa, and the Home Team command post.

The summit will take place at the Capella Hotel on the resort island.

The prime minister noted that the summit is a very major operation, due to - among other things - its scale, the number of journalists arriving to cover it and the level of security required.