On June 12, a Memorandum of Understanding (MOU) was signed between Gyeonggi Province and the Singapore Boating Industry Association (Singapore Boating) to cooperate on leisure boating initiatives that would mutually benefit both parties. The signing ceremony between Gyeonggi Province Governor Kim Moon-Soo and Singapore Boating chairman YP Loke took place at the Korea International Boat Show (KIBS), which ran from June 12-15.
Gyeonggi Province is the owner of the KIBS, which started in 2007. Last year the show relocated to the exhibition centre KINTEX in Seoul. Under Korea’s National Marina Development Plan, 17 new marinas providing berths for over 4200 boats have been developed. Another five marinas are under construction and a further 21 are at various planning stages.
“Singapore is the centre for superyacht location and services,” says Kim. “Although the sea area of Singapore is relatively small, its industry sectors for boats, yachts and marinas are well developed. This MOU agreement will contribute to the marine leisure industry of both Korea and Singapore.”
“There is a cultural affinity between our countries resulting in similarity in the boating mind set,” says Loke. “The MOU gives us a framework for sharing information and ideas for the development of leisure boating in our markets.”