PM Anwar Will Meet South Korea's Chaebol Leaders, Attract Foreign Investment
From Mohd Shukri Ishak
SEOUL, Nov 24 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim is scheduled to meet leaders of South Korean conglomerates, or "chaebol", to attract more foreign direct investments to Malaysia.
Malaysian ambassador to the Republic of Korea Datuk Mohd Zamruni Khalid said a series of meetings with key corporate figures and businessmen of the country's giant companies will be held on the second day of the official visit.
The Prime Minister is scheduled to arrive in Seoul at 10 pm tonight (9 pm Malaysian time) for an official visit to the country for three days starting today until Nov 26 at the invitation of South Korean President Yoon Suk Yeol. In addition, Mohd Zamruni said the Prime Minister would also speak at a business forum that is expected to be attended by more than 180 South Korean companies.
"In general, this official visit is expected to further strengthen bilateral relations between Malaysia and South Korea through agreements that will be sealed on many regional and international issues of mutual interest, including the strengthening of trade and investment initiatives," he told the Malaysian media here today.
Until October 2024, the total trade between Malaysia and South Korea is RM91.1 billion (US$19.8 billion).
Malaysia's total exports to South Korea were valued at RM43.95 billion (US$9.6 billion) while Malaysia's total imports from South Korea were worth RM47.1 billion (US$10.3 billion) this year.
"South Korea is the seventh largest trading partner for Malaysia while Malaysia is the 11th largest trading partner for South Korea. Total investment is RM61 billion with 616 projects," he noted.
This is Anwar's first official visit to the country since he was sworn in as Prime Minister on Nov 24, 2022.
During the three-day visit, Anwar, who is also the finance minister, is scheduled to hold a bilateral meeting with Yoon at the Office of the President of the Republic of Korea.
"During this meeting, the two sides are expected to discuss several matters that include bilateral cooperation in the economic field such as trade and investment as well as cooperation in the field of defence and security. Apart from that, cooperation in the field of infrastructure, energy transition and the environment, agriculture and food, and in relations between people, including education, cultural exchange and the tourism sector are also expected to be discussed," the ambassador said.
In addition, Mohd Zamruni said the two leaders are scheduled to witness the exchange of four memorandums of understanding, among them involving cooperation in the carbon capture and storage (CCS) and the higher education sectors.
He said Yoon will host a luncheon in honour of the prime minister and that Anwar will also meet Malaysians who work in South Korea, in addition to being interviewed by Chosun Ilbo and Chosun TV, an influential Korean-language newspaper and television station, on Tuesday. In the interview, he said Anwar would touch on Malaysia-South Korea bilateral relations, trade and investment as well as Malaysia's ASEAN chairmanship in 2025.
He added that the Prime Minister is also expected to meet with local Muslim community leaders from the Korea Muslim Federation (KMF), an official body recognised as the parent body to represent the Muslim community in the Republic of Korea, during which a donation of copies of the Al-Quran with English and Korean translations to KMF will be made.
The Prime Minister is also scheduled to deliver a special public lecture entitled “Strategic Partners in a Complex World: Malaysia, Korea, and the Future of Asia” at Seoul National University (SNU), a top Korean university.
"The Prime Minister's visit this time is very significant to reflect the close relationship between Malaysia and the Republic of Korea. What's more, the two countries will celebrate the 65th anniversary of diplomatic relations in 2025," the ambassador noted.
The two leaders are expected to affirm the commitment of both countries to strengthening bilateral relations through more comprehensive cooperation, especially in economy and investment, defence, education and tourism.
-- BERNAMA
