HomeNewsWorldSingapore says Trump-Kim summit cost just $12 million, after some question expenses

Singapore says Trump-Kim summit cost just $12 million, after some question expenses

Prime Minister Lee Hsien Loong had earlier estimated the event cost Singapore S$20 million. Foreign minister Vivian Balakrishnan had said that included the cost of Kim's hotel room.

June 24, 2018 / 18:29 IST

Singapore said on Sunday it spent S$16.3 million ($12 million) on hosting the summit between U.S. President Donald Trump and North Korean leader Kim Jong Un, less than earlier reports that had angered some locals.

Most of the money went on security, the foreign ministry said, without giving a detailed breakdown.

Prime Minister Lee Hsien Loong had earlier estimated the event cost Singapore S$20 million. Foreign minister Vivian Balakrishnan had said that included the cost of Kim's hotel room.

Those reports drew anger from some Singaporeans on social media - though one commentator said it was a small price to pay - the cost of a chicken-rice dish for each citizen - to contribute to regional peace.

Marketing experts said the publicity generated from hosting the summit could be worth more than 10 times the cost to the tiny Southeast Asian city-state.

Trump and Kim spent each spent three days in Singapore for the June 12 summit where the two pledged to work on ending North Korea's nuclear programme and improve ties.

Reuters
first published: Jun 24, 2018 06:26 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347