GS Group, Korea’s eighth largest conglomerate by assets, is seeking to expand its energy, retail and construction businesses in Singapore and Southeast Asia.
GS Group Chairman Huh Chang-soo convened a meeting of heads of affiliates in Singapore in November last year to discuss how the firm can sink deeper roots in the city-state, the Korea Times reported.
He urged heads of affiliates to become more aggressive in developing the Singapore market with skills learned while developing the Chinese market.
GS Global Singapore launched in July 2010 is a trade agent specializing in petrochemical products, grain products and bio-fuel. It’s trying to add finance, logistics and investment to its business lineup.
GS E&C is in charge of a US$549m project to build a general hospital in central Singapore. The firm is also involved in a project to build a subway tunnel and two stations.
GS Group Chairman Huh Chang-soo, right, and GS Caltex Chairman Hur Dong-soo, second from right, inspect a subway construction site managed by GS Engineering and Construction in Singapore (Credit: GS Group)