Malaysia, South Korea Tie Up To Explore Business Opportunities In Malaysia

In an endeavour to build on long-standing partnership between Malaysia and South Korea, entrepreneurs from both nations converged for business matching recently in a move to explore business opportunities in Malaysia, especially in green industry.

About 110 Malaysian companies and 30 South Korean companies gathered at the Green Technology Forum & Partnering Meeting 2013 organised by the Malaysian Green Technology Corp (GreenTech Malaysia), aimed at gathering renowned and leading players from different industries to explore new markets and business opportunities in Malaysia.

“As Malaysia sets out to create a fairer business environment for its small and medium enterprises to grow alongside major conglomerates, today’s event aims at further facilitating business matching opportunities,” Paul Wong, Under Secretary of the Green Technology Policy Section, Ministry of Energy, Green Technology and Water, said in a statement Wednesday.

From January to July 2013, trade between both the countries stood at RM31.41 billion, with liquefied natural gas constituting the bulk of exports to South Korea, while Malaysia’s major imports were electrical and electronics products.

Meanwhile, GreenTech Malaysia Chief Executive Officer Ahmad Hadri Haris said as the growth of the green industry was driven primarily by environmental concerns, the long-term impact of making a shift to green technology offers the Malaysian economy a broad range of social, economic and technological benefits.

Currently, there are 300 South Korean establishments in Malaysia with a total investment of RM12.1 billion, mainly in the electrical and electronics sector.