SMF Renewed MOU with KBiz

SMF hosted the leaders of Korea Federation of SMEs (KBiz) on 12th July 2018 and renewed a Memorandum of Understanding (MOU) that was signed in 2014.

13 July 2018 – Despite the language difference, it did not become a barrier between the two federations.


SMF hosted the leaders of Korea Federation of SMEs (KBiz) on 12th July 2018 and renewed a Memorandum of Understanding (MOU) that was signed in 2014. The MOU was to further strengthen business relations and promote economic cooperation between both enterprises. The leaders of SMF welcomed the leaders of KBiz at SMF Building and conducted a short tour around the premise. As KBiz is a federation for the SMEs in South Korea, SMF President, Mr. Douglas Foo introduced SME Centre@SMF to KBiz, highlighting to them that SMF has business units that provide support for SMEs in Singapore to help them grow and sustain their businesses.


Both SMF and KBiz then talked about their respective countries plans to go digital and transform the outlook of manufacturing into a smart factory. Calling KBiz a great friend to SMF, both leaders agreed that they hope there will be a deeper collaboration in the future. KBiz Chairman, Mr. Park Sung-Taek also suggested that KBiz management team could come down to have a deeper discussion on practical plans for collaboration.
“This is a new beginning, a new chapter.” Said Mr Foo. “With this renewal of MOU, we will need to write more things in this new chapter.”


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MOU Signing KBiz

SMF renewed an MOU with KBiz, which was first signed in 2014. On the left were SMF leadership, while on the right were the KBiz leaders.

MOU Signing KBiz

SMF President, Mr. Douglas Foo (extreme right), introduced SME Centre@SMF to KBiz.

MOU Signing KBiz

SMF and KBiz shake the "ASEAN Handshake" after the signing of the MOU. (from left to right): Dr Michael Teng (Assistant Secretary-General, SMF), Mr. Andy Yun (Secretary General, SMF), Mr. Patrick Chang (Council member, SMF), Mr. Douglas Foo (President, SMF), Mr. Park Sung-Taek (Chairman, KBiz), Mr. Kim Jeong Tae (President, Korea Management Innovation Association for Small and Medium Business), Mr. Choi Jun Nam (President, NamSung Engineering Co. Ltd.)

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