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SBF business mission to Seoul, South Korea fosters stronger B2B links
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- Business delegates attended the 6th Korea-Singapore Business Roundtable (KSBRT) co-chaired by SBF Chairman Mr. Tony Chew and KITA Chairman, Mr. IL SaKong and the 4th Korea-Singapore Logistics Council Meeting (KSLC) co-chaired by SBF Council Member Dr. Robert Yap and Mr. Chung Tae-Soon, President of Sinokor Merchant Marine
- Mission was aimed at facilitating more Singapore-South Korea joint collaborations in the logistics and clean & renewable energy sectors
- Participants of KSBRT exchanged views on how to capitalize on Korea-Singapore FTA
- Sustainable Energy Association of Singapore (SEAS) and Korea New and Renewable Energy Association (KNREA) inked an MOU of cooperation
Singapore, Monday, 14 December 2009 - SBF Chairman, Mr. Tony Chew led a 29-member Singapore delegation to South Korea from 13 to 16 December 2009 for a 4-day Business Mission, as well as to attend the 6th Korea-Singapore Business Roundtable (KSBRT) and 4th Korea-Singapore Logistics Council (KSLC) meeting.
The aim of the business mission was to facilitate Singapore companies' exposure to South Korea's business opportunities and to foster closer business ties between both sides. The Singapore delegates engaged in various business meetings with their South Korea counterparts and potential business partners. The programme included participation in the KSBRT and KSLC Meeting, networking session with members of Korea International Trade Association (KITA), business matching sessions and site visits to Samsung D'light Electronics, Sudokwon Landfill Management Corporation Site, Incheon Free Economic Zone, Incheon Port Authority, and discussions on clean energy projects.
The biennial 6th KSBRT on 14 December in Seoul hosted by KITA and co-chaired by Mr. Tony Chew and KITA Chairman, IL SaKong, focused on challenges and opportunities in Korea and Singapore in the aftermath of the global economic crisis; how to leverage the Korea-Singapore Free Trade Agreement (FTA), and enhancing cooperation in the logistics and clean energy sectors. Dr. Robert Yap, Chairman & CEO of YCH Group, and Mr. Chung Tae-Soon President of Sinokor Merchant Marine, Republic of Korea, co-chaired the 4th KSLC, which zeroed in on the challenges and opportunities for the logistics sector in Asia after the crisis. The meeting also discussed the pursuit of excellence in logistics technologies beyond the current economic turmoil, logistics hub strategies and logistics co-operation between Singapore and South Korea.
The 6th KSBRT and the 4th KSLC are excellent platforms for businessmen from both sides to explore vast business opportunities and collaborations, especially in the logistics and clean energy sectors. SEAS and KNREA signed an MOU of cooperation to forge closer collaboration in clean technology development on 14 Dec 2009 . An agreement on future logistics co-operation was also signed between the 2 co-chairman of the KSLC on the same day.
In his opening remarks at the Roundtable, Mr. Chew said, "I believe South Korean and Singapore companies can form complementary partnerships for greater success in many sectors, especially in logistics and the clean energy sectors. The Singapore-Korea Free Trade Agreement, ASEAN-Korea FTA and co-operation in other areas will spur increased trade and investment between Korea, Singapore and ASEAN."
"In the clean energy sector, while South Korea is leading in green technology, Singapore is putting increased emphasis on clean technology development. There is tremendous synergy for Singapore and South Korean companies to forge closer collaboration in this field, he added" The MOU signed between SEAS and KNREA aims to set a framework for collaboration between the two associations in education, networking and information exchange pertaining to sustainable, renewable energy and energy efficiency issues.
It is our desire that the contacts made at the KSBRT and KSLC meetings will turn into successful business between Singapore and South Korea.
For more information on GBD-Korea events, please contact
Ms. Juliana Seah
Senior Executive, GBD China & North Asia
Singapore Business Federation
Email: markets.china@sbf.org.sg
Tel: 6827 6897
About Korea-Singapore Business Roundtable (KSBRT) & Korea-Singapore Logistics Council Meeting (KSLC)
SBF inked an MOU of Cooperation with KITA in 2003 to launch the KSBRT, an annual meeting between the apex chambers of both countries. At the 5th Korea-Singapore Business Roundtable in December 2007, it was decided that the Business Roundtable and the KSLC will be held biennially from 2009.
The current KSBRT Singapore Co-Chairman is Mr Tony Chew, Chairman of SBF. Korean Co-Chairman Mr II SaKong is concurrently the Chairman of KITA and Senior Economic Advisor to the President of the Republic of Korea. He chairs the newly established G20 Summit Korea Coordinating Committee in the President's Office.
About Korea International Trade Association (KITA)
KITA (www.kita.org) was established in 1946. It is Korea's largest business association and one of the most influential economic organization in Korea. With all of its 65,000 members engaged in international trade, KITA's main goal is to expand the economic horizons of all its members.
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