A Memorandum of Understanding was signed between Gueonggi province and the Singapore Boating Industry Association (SBIA) to cooperate on leisure boating initiatives that would be mutually beneficial to both parties. Gyeonggi province governor Kim Moon-Soo and SBIA chairman YP Loke took part in the signing ceremony, alongside the Korea International Boat show on the 12th June.

The Korea international Boat Show, which was started in 2007 and ran from 12 to 15 June this year, is owned by Gyeonggi Province. Last year it was relocated to an 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 a cultural affinity between our countries, resulting in similarity in 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.

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