PENANG recently cemented its position as a leading business events destination by entering a partnership with South Korean convention centre specialist, KINTEX.
KINTEX was signed on to manage the mammoth Penang Waterfront Convention Centre (PWCC), which is scheduled to open later this year.
The strategic collaboration between the developer IJM Perennial Development Sdn Bhd, KINTEX Malaysia, and the Penang Convention & Exhibition Bureau (PCEB) positions the waterfront as Penang’s leading convention venue even before its doors open.
Chief Minister Chow Kon Yeow, who witnessed the signing ceremony, applauded the growing friendship between Penang and South Korea, not only culturally but also strategically.
“These new partnerships between IJM Perennial and KINTEX, and between PCEB and KINTEX, mark an exciting leap in hosting bigger conventions, and increasing international exposure for Penang.
“Last year had been a thrilling year for Penang’s business events sector, with the state hosting over 2,000 business events, attracting more than 300,000 delegates, and generating an estimated RM1.29 billion in economic impact,” Chow said.
He said he has been informed that several major events have been lined up for PWCC, including the 7th Asia Pacific Ministerial Conference on Housing and Urban Development, Malaysia International Tech Edu, K-Brand Week featuring the K-Beauty Expo Malaysia, and Water Tech Asia.
“PWCC is not just another venue; it’s about the centre of attention in the region. All these developments align perfectly with our vision,” he said.
Chow highlighted the significant value of bringing business events to the state to boost the state’s tourism.
South Korea's Goyang Special City Mayor Lee Dong-hwan, a special guest invited, expressed optimism about the collaboration.
“We are ready to share our insights in order to boost the Meetings, Incentives, Conventions and Exhibitions outlook here,” he said.
IJM Perennial Development Sdn Bhd director Datuk Tony Ling said PWCC is set to attract over 30,000 delegates in its inaugural year, which will spur Penang’s economy.
Meanwhile at a separate event, Chow said that despite the threat of tariffs, it is still possible to boost the growth of local companies and diversify the economy.
Chow shared this during a courtesy visit by representatives from the Bank of America Malaysia Sdn Bhd to his office in Komtar.
The bank was represented by its managing director and country executive Gautam Puntambekar and corporate banking subsidiaries director Surinder Singh.
“Our local companies must continue to grow, and we need to develop our technology.
At the same time, our local businesses can grow together with the multinational companies (MNCs) through collaboration and shared opportunities,” Chow said, adding that several large local companies (LLCs) have made it into the global market. – April 12, 2025
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