In 1963, it gained independence from the United Kingdom as a member of the Malaysian Federation, and in 1965, after a dispute with the Malaysian federal government, it eventually left the Union and became an independent state.At the time of independence, the population was 1.6 million, but it steadily increased to 5.2 million in2010. One of the fastest growing economies in the late 20th century, Singapore’s port is one of the busiest in the world, and its refineries and financial industries are the third and fourth largest in the world, respectively. Singapore’s economic growth rate in 2010 was 15%, the highest in Asia.Singapore ranks high with a 91% home ownership rate in major social indicators such as education, healthcare, quality of life, personal safety, low corruption and housing. Singapore also enjoys one of the world’s longest life expectancy, the fastest Internet connection speed, and the lowest infant mortality rate in the world. In addition, among Asian countries, the Republic of Korea opened its Trade and Economic Mission in Singapore in December 1970. The mission was promoted to the Consulate General in July 1971, and then to the embassy in August 1975. The two countries signed an aviation agreement in 1972. In November 1979, the Double Taxation Prevention Agreement was signed. In particular, exchanges in the construction industry are active, and many major buildings, including Singapore’s Changi International Airport, have been built by Korean construction companies.
The two countries are top 10 trading partners, mainly electronic and electrical appliances and machinery, and in particular, a lot of investment has been made in Korea since the 1998 financial crisis. It peaked in 2000 and then decreased, but now it is on the rise again. Korea’s exports to Singapore reached 15.244.2 billion USD and Singapore’s exports to Korea reached 7.84953 billion USD (each 2010), making Singapore the fifth-largest exporter and 14th-largest importer of Korea. In particular, the Government of Singapore Investment Corporation (GIC) purchased large real estate such as Jamsil Sigma Tower in 1999, Prime Tower, Seoul Finance Tower, Mugyo Building, and Kolon Building in 2000, and purchased a 45-story Star Tower building in Yeoksam-dong, Seoul in 2005. Currently, Korean players are in the Singapore soccer league.In addition, OTT (Squid Game), music (girl and boy groups BLACKPINK and BTS), culture, and art are gaining great interest and popularity not only in Asia but also in Europe, North America, and South America. Already, girl and boy groups have been selling out and paying attention to their performances every day, and their moves are drawing attention online and offline. In view of this overall situation, exchanges between countries of interest in Asian culture and economy are very desirable.
KF CORP. (CEO Kim Jae-hong), Singapore Snow City (Norazani Shaiddin), and Science Center Singapore (Senior Director Barry Wong) signed an official memorandum of understanding on the 25th, and it will begin in the form of a culture and arts performance (K-pop) and a corporate expo in December this year. Already, Korea’s corporate start-up center and Techno Park nationwide.The purpose and official letter of participation in the event were sent to public institutions.
On the 25th, Mr. Norazani and Barry Wong visited an IT company(Infomanning CEO: Jae yang Lee) in king nam to listen to a technical briefing on the company, and Barry Wong, in particular, asked a lot of interest and questions about data management and the development of core technologies.
SAM KIM
US ASIA JOURNAL
