June 12, 2014, saw Gyeonggi Province and the Singapore Boating Industry Association (SingaporeBoating) sign a Memorandum of Understanding (MOU), in order to partner on leisure boating initiatives that would mutually benefit both parties. The signing ceremony between Gyeonggi Province Governor Kim Moon-Soo and SingaporeBoating chairman YP Loke was held on the sidelines of the 2014 Korea International Boat Show (KIBS), which took place from 12 to 15 June.
Memorandum of Understanding signed between Gyeonggi Province and Singapore Boating Industry Association
Gyeonggi Province is the owner of the Korea International Boat Show which started in 2007. Last year it relocated to the exhibition centre KINTEX in Seoul. Under Korea’s National Marina Development Plan, 17 new marinas providing berths for over 4,200 boats have been developed. Another five marinas are under construction and a further 21 are at various planning stages.
Governor Kim Moon-Soo said, “Singapore is the centre for superyacht location and services. 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 cultural affinity between our countries resulting in similarity in the boating mindset. The MOU gives us a framework for sharing information and ideas for the development of leisure boating in our markets”, said YP Loke.
