The President joined a Singapore Business Federation (SBF) meeting held at the Shangri-la Hotel on Saturday (June 4). The President is currently on a state visit to Singapore on Jun. 4 and 5.
 

At the meeting were 12 important business leaders in Singapore, including chairman of SBF Tony Chew, chairman of NTUC Fairprice Ng Ser Miang, chairman of Singapore Airlines Stephen Lee, City Development Limited’s Kwek Leng Joo, chairman of SingBridge International Lim Chee Onn,  chairman of SembCorp Industries Tang Kin Fei, YCH Group’s Robert Yap, president of Keppel Corporation Choo Chiau Beng, president of Ascendas Chong Siak Ching, president of PSA International Eddie Teh, president of GIC Special Investments Teh Kok Peng and CIO of Temasek Holdings Tow Heng Tan. 
 

Noting that Singapore has risen to become Korea’s fifth largest trade partner since a free trade agreement was forged between the two countries in March 2006 and that Korea is the seventh largest investor in Singapore, the President praised the rapid progress resulting from economic cooperation between the two nations.
 

The president then called for further investment from Singapore in other large scale development projects in Korea such as the Saemangeum reclaimed tidal flats and free economic zone as well as in the fields of green growth and new growth engines.
 

Touching on Singaporean Temasek fund’s investment in Korea’s LED and bio-industry sectors, he called for more win-win examples by bringing together Singapore’s capital and Korean technology. Singaporean businessmen attending the event gave high marks to Korean government efforts to overcome the global financial crisis and inquired more about Korea’s economy as well as future directions for its growth engines.