Ambassador of ROK to Singapore pays visit to SMF

25 November 2016 – This morning, His Excellency, Mr Lee Sang-deok, Ambassador of the Republic of Korea (ROK) to Singapore made a visit to SMF. He was received by SMF President, Mr Douglas Foo and SMF Secretary General, Mr Lam Joon Khoi.

Last year, the Republic of Korea and Singapore marked 40 years of diplomatic relations which has seen progress in their cooperative ties across the board, including political affairs, economy and culture. Singapore Prime Minister, Mr Lee Hsien Loong made South Korea his private vacation destination early this year to cap the 40th anniversary between the two nations. The visit underscored the bilateral tourism that has boomed since 1975, mostly spurred in part by the export of Korean culture. 

Trade has expanded over the years, boosted by the Korea-Singapore Free Trade Agreement signed in 2005. The total trade volume between the two countries has increased by 227% from 2006 to 2014 and hit 48.5 billion Singapore dollars (US$34.4 billion) in 2014. Singapore is South Korea's fifth-largest trading partner while South Korea is the Republic's eighth-largest trading partner.

Mr Lee Sang-deok said, “The Embassy will do its best to to develop close partnership between Korea and Singapore. ‘Creative Economy’, one of Korea’s important policy initiatives, will be a right vehicle to collaborate with Singapore which is known for its knowledge-based economy.”

 (L-R): Ms Sara Lee, Senior Researcher, Embassy of the Republic of Korea; Ms Emmeline Lam, Director, SMF Global Business Groups; Mr Kim Sun Ki, Counsellor; Mr Lee Sang-deok, Ambassador of the Republic of Korea; Mr Douglas Foo, SMF President; Mr Lam Joon Khoi, SMF Secretary-General