The US$ 100 Million Golf Course In Batu Kawan Is A Testimony Of The Confidence Of Korean Investors In Penang’s Future Despite The Global Financial Crisis And Belief In Our Commitment To Transforming Penang Into An International City.
The Penang state government welcomes the signing of the MOU between PDC and DK ENC to build a US$ 100 million golf course in Batu Kawan as a testimony of the confidence of Korean investors in Penang’s future in spite of the global financial crisis. By proceeding ahead with the golf project during such uncertain times, Korean investors have also signalled their belief in the new government’s commitment to transforming Penang into an international city.
To transform Penang into an international city, we want participation from all nationalities. We have investors from many countries. But we need to work harder to get more investors from some countries such as Korea, without which Penang can not claim to be a truly international city.
Korea has achieved tremendous success in growing its economy from a poor war-torn state to a developed nation. The success of Korea can be seen by its per capita GNP of only US$130 as compared to Malaysia’s US$350 in 1966. Korea’s GNP per capita is now more than US$18,000 as compared to Malaysia’s US$6,000/-. From almost three times better off than Korea 42 years ago, Malaysia is now three times worse than Korea.
The remarkable economic success of Korea was achieved without any natural resources such as oil and commodities, except for its people. There is much to learn from the success of Korea’s economic transformation based on a culture of excellence, a strong work ethic, openness to new ideas and mastery of technology.
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