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12 November 2002
Address By Mr. Teo Ming Kian, Chairman, EDB At The Samsung Digitall 2002 Gala Dinner On 12 November 2002, 7 P.M., Ritz-Carlton Millenia Hotel
Mr. Yun Jong-Yong, Vice Chairman and CEO of Samsung Electronics Co., Pte Ltd
Mr Kim In-Soo, President and CEO, Samsung Asia Pte Ltd
Friends from the media
Ladies and Gentlemen,
- It is a great pleasure to be invited to this gala dinner. Let me welcome Mr Yun and all who have flown in from all over the world to Singapore for the Samsung DigitALL World Tour 2002.
- This DigitALL Word Tour reflects not only the exciting applications of digital convergence that brought about a whole new world of broadband, wireless and Internet appliances, that brings new meaning to the way we live, play and work. It has also brought about immense opportunities as new markets and services are created. At the forefront of this digital convergence are innovation-driven companies such as Samsung, with its launch of exciting products such the world's largest LCD TV, portable DVD player and so on. And I hope by Samsung's choice as one of four venues in the world tour, Singapore is recognized too as an innovation-driven economy that is equally plugged into this exciting world of technological advances.
- Indeed, Singapore is host to many innovation-driven companies undertaking not just manufacturing, but a whole spectrum of activities, from product conceptualisation, R&D, production, marketing to supply chain management. We have embraced IT pro-actively for more than two decades now and we are today one of the most Internet active and IT intensive nations in the world - with a 47% PC-usage rate and a 33% Internet-access rate across the population. We have built up a strong info-communications infrastructure, and a vibrant community of both local and international players from a range of industries - from IT players such as IBM, HP, Creative Technology, to component manufacturers for chips, displays, specialty materials, to consumer electronics players like Matsushita, Philips, and, of course, Samsung.
- Recognising that companies have to keep innovating to keep competitive, EDB has been developing Singapore as a 'Living Working Lab'. Our compact size, our familiarity with technology, our strong infrastructure, and strong IPR regime, are factors that companies can leverage on to conceptualise, test-bed and conduct trials of their products.
- I understand Samsung is participating in one of the trial platforms, the Connected Homes project. Many other key players are also doing the same. For example, Philips, with a large innovation campus here, is undertaking the global development of LCD TV here, and Kyocera, a Japanese company, has set up presence recently to do new mobile content aggregation. ST Microelectronics is also tapping on our Research Institutes to develop a universal 3G mobile-phone chip that can be used across all standards and countries. We look to Samsung to add to the vibrancy of this sector and its scope of activities. Such efforts are in line with EDB's objective to build an enterprise ecosystem where large and small companies, foreign and local can come together to work closely for greater synergy and mutual benefits.
- Singapore's strategic location and conducive business environment has also positioned us well as a regional gateway for global companies and a global gateway for regional companies. I am pleased that Samsung Electronics, one of the world's innovation leaders, is using Singapore as its hub for new generation digital products for the ASEAN, Indian and Oceania markets.
- Best wishes for Samsung DigitALL 2002, and we look forward to many more exciting developments with Samsung. Thank you.
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