Gyeonggi Province "Learning Singapore's Urban Development Practices"

Governor Kim Moon-soo of Gyeonggi Province, currently visiting Singapore, visited Jurong Town Corporation (JTC) on the 26th and signed a Memorandum of Understanding (MOU) on urban development, housing construction, and other development projects with Ascendas, a subsidiary of JTC.

Gyeonggi Development Corporation and Ascendas agreed through the MOU to cooperate in areas such as site development and industrial complex construction, including information exchange, staff exchange, and sharing of new knowledge.

The province expects that through the MOU signing, it can establish a cooperative network with Singapore, known as the "Garden City," in projects such as Gwanggyo Techno Valley and Pangyo Techno Valley, luxury city construction, and new town projects.

Ascendas is a subsidiary of JTC, which is under Singapore's Ministry of Trade and Industry (MTI), and provides real estate investment, commercial and industrial complex development and management, and related services in 11 countries across Asia and the Pacific, including South Korea.

Gwon Jae-uk, president of Gyeonggi Development Corporation; Soo Kok Leng, chairman of JTC; and Chong Siak Ching, president of Ascendas, attended the MOU signing ceremony.

Earlier in the morning, Governor Kim and his delegation took a test ride on Singapore's light rail transit, received explanations on the fare system and connected transportation networks, and reviewed ways to apply these to the province's ongoing light rail projects in Yongin and Uijeongbu.

Governor Kim also toured Bio Pollis, the center of the "One-North" project that JTC is pursuing with the goal of transforming Singapore into a global hub for the bio-industry.

Following Singapore, Governor Kim will visit Bengaluru, India on the 27th to meet with Narayana Murthy, chairman of the world-renowned IT company Infosys, to discuss ways to develop the IT industry, and will encourage local Korean business leaders.