Keynote Address at the Inauguration of BEUNG SIEM REAP GOLF CLUB of KTC LEISURE CO., LTD.

Siemreap, January 19, 2009

-         Excellencies Member of the Royal Government,

-         Excellencies Ambassadors,

-         Excellencies, Ladies and Gentlemen, Distinguished National and International Guests!

Today, it is my great honor and pleasure to be here in the inauguration ceremony of the BEUNG SIEM REAP GOLF CLUB of KTC LEISURE Co., LTD. This, without doubt, marks another material-based achievement which serves the tourism sector in Siem Reap province.

I highly appreciate the KTC LEISURE Co., LTD. for exerting its utmost efforts to establish this international luxurious golf club, which is the initial outcome of the 200-hectares project that comprise of many more infrastructural constructions to be built successively such as hotels, residential buildings, water parks, race courses etc. This can be regarded as a big investment project in Cambodia with an estimated value of up to approximately USD 450 million and could create up to 4000 jobs.

I would also like to praise all related organizations and local authorities for facilitating and realizing this investment project. Indeed, this inauguration ceremony clearly represents investment growth, especially the development of sport sector in Cambodia. It also highlights the progress of the country, culture, art, tourism and the improvement in mental and physical health conditions among youths. Moreover, it also provides Cambodian youths with the golden opportunity to master their golfing skill to compete at the national, regional and global level.

At the same time, golf plays an important role in strengthening the international cooperation relationship and tourism sector regardless of political trends, races, and religions. In this spirit, golf bridges relation, friendship and cooperation, and reinforces solidarity between individuals, groups, and nations. Moreover, golf courses can be the place for relaxation for investors, tourists and civil servants.

Cambodia is fortunate to have inherited some famous cultural and archeological inheritances, especially the Angkor Wat and magnificent natural sceneries along with mountain lines, forests, lakes, beaches and islands. Tourism sector is moving forward and providing a substantial contribution to the growth of the service sector. The abundance of cultural and archeological treasures, together with natural and cultural resorts such as forests, lakes, seas, and attractive landscapes make the tourism sector even more interesting for investment.

Apart from this, our ancestors have also left us with cultural statues and countless artistic masterpieces that can be regarded as intangible masterpieces. These cultural inheritances have helped transform Cambodia into a vibrant and attractive tourist destination. This place is not only about leisure, but a great site for tourists, archeologists, and historians who want to research into Khmer's long-standing culture that influences many neighboring countries during its prosperous era of Angkor. In this context, we can regard the inauguration of BEUNG SIEMREAP GOLF CLUB as an important contribution to the attraction of tourists and the admiration of Cambodia's ancient culture and civilization.

I have noted that KTC Co., Ltd, which is led by Mr. Kim Myong Il, an important and genuine investor, has invested in some major projects such as Cable Factory in Phnom Penh, Golf Course, Banking, Telecommunication, Clean Water Supply in Siem Reap etc. So far, the company has already invested USD 120 million in Cambodia. Therefore, related institutions as well as local authorities must provide necessary assistance and facilitate to ensure the success of this project.

The BEUNG SIEMREAP GOLF CLUB, which is being inaugurated today, does not only reflect the Royal Government's success in undertaking its policy implementation to attract foreign investors, but this also stresses the Royal Government's commitment to ensure the development of sport sector in Cambodia. This golf club will become a new complementary service for national and international tourists, and we hope that it will help to further transform Siem Reap into an important gate for international tourists and to extend the duration of their stays in Cambodia.

Along with its role as a complementary tourism service, this achievement will support and bolster sport sector which aims at building physically strong and bright young generations to become the core of economic development as well as to enhance their skills to compete in international competitions, an to become national pride in the future.

Taking this opportunity, I would like to appeal to pro-sport national and international donors to provide financial and material assistances to ensure continuous development in this sector.

I would also like to appeal to all Korean investors to examine the possibility of investing more in Cambodia to contribute to Cambodia's development as well as to benefit from this golden investment opportunity.

Before ending, I would like to once again thank KTC LEISURE Co., Ltd. for its significant contribution to economic development in Cambodia, and I believe that this BEUNG SIEM REAP GOLF CLUB will be able to compete with other big golf clubs around the world.

Finally, I wish Your Excellencies, ladies and gentlemen happiness and success; May this BEUNG SIEM REAP GOLF CLUB be successful.

May I now declare the opening of BEUNG SIEM REAP GOLF CLUB, a new service base for tourism and sport.

Thank you!