In Seoul - A SINGAPORE business delegation arrives in Seoul today on a six-day trip to explore investment opportunities.
Led by Singapore Business Federation (SBF) chairman Stephen Lee, the 18-member delegation will meet businessmen and government officials for networking sessions.
This mission abroad is the latest organised by the SBF. Earlier this month, it sent one to Turkey with Senior Minister Goh Chok Tong.
Businessmen from both countries had met at an inaugural round-table meeting in Singapore last year. SBF said the event was 'a good opportunity to find out how we can complement each other in the business arena in light of the forthcoming free trade agreement', expected to be signed in the next few weeks.
Touching on the draw of South Korea, Mr Lee said: 'The Korean government is offering generous incentives to international companies, including the smaller ones, in its drive to attract investment. South Korea's location at the heart of North-east Asia makes it an attractive destination for foreign multinational corporations seeking to target Asian markets.'
The incentives include tax holidays, cash grants and rental subsidies.
While in South Korea, the group will visit companies such as Samsung Electronics, and meet representatives from small businesses to get a feel of the business environment. They will also visit Busan Port in the south-east, and meet the business community there.
Recent business exchanges between the two countries have been brisk. A team from Busan, South Korea's second-largest city, visited Singapore last month to sign a memorandum of understanding with International Enterprise Singapore on boosting investment.
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