03 Mar

South Korea Wants To Tap Into Malaysia`s Halal Experise

KUALA LUMPUR (March 14): South Korea is keen to tap into Malaysia’s success in the halal industry by strengthening collaboration in the sector, especially in Malaysia’s globally recognised halal certification.

Visiting President Moon Jae-in in his speech during the Malaysia-Korea Business Forum today said that the Korean wave, known as Hallyu, has opened doors for its local businesses, and with Malaysia's halal expertise, the two countries could forge a stronger strategic partnership. 

"Malaysia’s halal certification is recognised globally and with this partnership, it can reach a bigger market that has demand for halal (products and services)," he said. 

The cooperation between Malaysia and South Korea has the strategic aim of enhancing halal bilateral trade and investment exchanges, as well as market access for halal products and services.

"Unlimited economic benefits can be obtained between the two countries especially in the halal market segment, foreign direct investment as well as technology," he said. 

As for collaboration in the Information Technology sector, Moon said South Korea would build a virtual reality (VR) centre at the ongoing Smart City project in Kota Kinabalu, Sabah.

The centre is expected to boost technology adaptation by both South Korea and Malaysia, he said.

Moon also said the strong economic relations forged between the two countries will continue to strengthen under Malaysia's Look East Policy and South Korea's New Southern Policy. 

"(It) will reach a new horizon in economic advancement," he said.

 Meanwhile, Minister of International Trade and Industry Datuk Darell Leiking said as of September 2018, a total of 371 manufacturing projects with Korean participation worth US$7.79 billion (RM31.84 billion) have been implemented.

"These projects have provided more than 52,000 job opportunities for the country. Much has been achieved together but there is still a lot more that we can do together," he said. 

He added that Malaysia is truly a land of opportunities, not just for investors but also for anyone with the spirit of entrepreneurship. 

“It is my hope that through our forum today, all of you here will be encouraged to further capitalise on Malaysia's comparative and competitive advantages to cater for the ASEAN and global markets," he said. — Bernama


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