President Park Geun-hye met with executives from Temasek Holdings, Singapore’s sovereign wealth fund, and discussed expanding the fund’s investments in Korea and other matters of mutual interest.
“I am glad that the Temasek Connection conference is being held in Korea this year, after it was postponed last year due to the deterioration of South Korea-North Korea relations,” said President Park in a meeting at Cheong Wa Dae on May 27. “I hope the conference will be a good chance to understand Korean industries and culture, and to find new opportunities for investment in areas with high growth potential.”
President Park also expressed her gratitude to Temasek for investing in promising Korean startup companies and small- and medium-sized enterprises. “Korea has a competitive edge in automobiles and IT industries, as well as creative industries, such as music and television. Thus, there are many companies in which Temasek could be interested in investing,” the president added.
In response, Temasek Chairman Lim Bun Heng said that the holding company is always happy to hold the Temasek Connection conference in a country with many investment opportunities. “Temasek seeks opportunities to invest in small- and medium-sized enterprises that need a boost to go beyond, and we intend to help them actually grow. We are also interested in many areas, including technology and the life sciences.”
“We are closely looking at the service industry, including TV drama production, high-end consumer goods for middle class consumers and IT industry goods for young buyers,” said Temasek CEO Ho Ching. “In the long term, we are interested in possible cooperation on the environment, energy and water.”
Stressing the importance of the water industry, President Park said, “The seventh World Water Forum will be hosted by Daegu next year, and there will be a lot of synergies by expanding mutual investment and cooperation between Korea and Singapore.”
The president added that if Temasek and the Korea Investment Corp. (KCI) can together find investment targets in third countries, it would be a win-win opportunity. CEO Ho Ching responded that they are looking into cooperating with a number of Korean institutions, including the KIC and the National Pension Fund.
By Limb Jae-un | Korea.net