Just look at Advanced Info Service (AIS), the country's largest mobile-phone operator. Although its market share has been eaten away by its arch-rival, Total Access Communication (DTAC), it remains the focal point of the industry, no matter what it embarks upon.

On a bigger scale, Singapore has been the envy of many countries over recent decades for its economic prosperity. From a small island with limited resources, it has successfully built up its presence in the world arena through policies that have attracted foreign investment. Lately, the Singapore government's investment arm, Temasek Holdings, has also captured global attention with its aggressive investment plans to further expand Singapore's presence in the world.

Being big is not always good, though. Envious competitors can easily see a common cause in cutting down a high-flyer.

While Singapore's investments are under attack here in Thailand, it is also facing growing competition from Jeju, an island at the southernmost tip of South Korea.

Jeju has apparently spent a lot of money advertising itself as an investment destination under the slogan "Jeju. Always in Season for Investment". The campaign has been running for some time on TV channels offering global exposure and often pops up as a print media ad, such as that in the photo. Unlike most of its advertising, the one shown with this column explicitly names Singapore as the target Jeju aims to beat.

It portrays a chessboard with a stone statue representing Jeju in the centre of the board and the lion, representing Singapore, about to fall out of the game.

"Excuse me … Mr Singapore," is what Jeju says in the ad.

"Why? Because Jeju aims to leap forward to become Asia's next global city. Located on one of Korea's most beautiful islands, Jeju is a city of the future and the hub of Northeast Asia. Jeju Free International City will lead the region as a city of the future with tourism, leisure, logistics and technology resources to meet the needs of every visitor. The eyes of the world are focused on Jeju and the opportunities for investment are clear."

To achieve its "leap forward", Jeju has established a government agency called the JDC, or Jeju Free International City Development Centre. Unlike Temasek, which goes out hunting for overseas investment, the JDC focuses on drawing investment into the Korean island.

Jeju is not the only Asian centre vying for Singapore's position. It is just the first one to come out and directly challenge the Lion.

achara_d@nationgroup.com