The Prime Minister Anwar Ibrahim is currently in South Korea on a two-day visit at the invitation of the President of the Republic of Korea Yoon Suk Yeol.
According to the official statement by the Ministry of Foreign Affairs, “both leaders will take stock of Malaysia-Republic of Korea bilateral relations that have significantly progressed, both in scope and substance, since the establishment of diplomatic ties in 1960”
Although his stay might be short, PM Anwar successfully witnessed memoranda of understanding that covered enhancing collaboration in four key areas: peace and security, economic development, culture and education, and regional and global cooperation.
“This strategic partnership signifies the shared determination of Malaysia and South Korea to expand cooperation to new horizons in promoting freedom, peace, and prosperity while addressing pressing global challenges,” said in a joint statement.
Additionally, the Prime Minister met corporate figures or popularly known as ‘chaebol’ of leading companies in South Korea.
The purpose of this particular meet is to explore more foreign direct investment (FDI) into Malaysia as well as to further strengthening trade relations between the two countries.
The Prime Minister held a series of meetings with several captains of industry, including the Samsung Group, SK Nexilis Group, POSCO Group and Lotte International.
It should also be noted that under the MADANI government, from January to September 2024, Malaysia’s trade with the Republic of Korea was valued at RM81.61 billion (USD17.63 billion).
Deepening ties with heads of state and captains of industry are a key element to PM Anwar’s ongoing effort in making Malaysia a prime investment location. This in turn will grow employment opportunities and higher wages for the ordinary Malaysian.
