SOUTH Korea and Penang are looking forward to having better collaboration and the future looks promising.
South Korea’s ambassador to Malaysia Lee Chi Beom said that Penang has many electrical and electronics (E&E) companies.
“The success of the E&E sector in Penang has contributed tremendously to the economy of Malaysia. Penang is also active in its digital efforts, which is similar to South Korea.
“Many Korean companies are interested to invest in Penang’s high-tech industry.
“Last year, South Korean president Moon Jae-In announced the national development strategy called ‘Korean New Deal’ to support the country’s recovery from the pandemic crisis. This ‘Korean New Deal’ is supported by two major pillars – Digital New Deal and Green New Deal.
“The ‘Korean New Deal’ is in line with the Penang state policies as well. We see that there are a lot of space for collaboration between Penang and South Korea,” he said during a courtesy call on Chief Minister Chow Kon Yeow in Komtar today.
Chi Beom said that Penang was among the states with the highest number of Koreans in Malaysia.
“Penang is a very familiar state to Korea. We have many Koreans who also visited Penang.
“Personally, I am even considering Malaysia as my retirement place to live later. I have asked Malaysians, and Koreans who have been in Malaysia for a long period, on where I should go. They said Penang.”
The ambassador and his entourage – the Embassy of the Republic of Korea commercial attache counsellor Lim Chae Uk, the Embassy of the Republic of Korea minister-counsellor Kim Dong Jo, Embassy of the Republic of Korea consular assistant Cho Jun Youn, Simmtech Penang head of construction Lee Ung Hun, Korea Trade-Investment Promotion Agency director-general Kang Young Jin, and the ambassador’s interpreter Jee Eun – were scheduled to meet InvestPenang later today.
Chi Beom said Malaysia and South Korea shared a solid foundation in trade relationship.
“The trade volume between Korea and Asean had reduced by 5% during the movement control order (MCO) period, but the trade volume between Korea and Malaysia had only reduced by 0.5%.
“I believe that our trade relationship will be better than now after the Covid-19 pandemic is over,” he said, adding that Malaysia and South Korea are also connected culturally despite the Covid-19 crisis.
“Many Malaysians also love Korean dramas and K-Pop music among others.”
Penang Tourism and Creative Economy Committee chairman Yeoh Soon Hin, who was present, said Penang shared a ‘sister city relationship’ with three South Korea cities since 2008.
“The three sister cities are Changwon in 2012, Gwangju (2013) and Seoul in 2015. I have also undertaken official visits to South Korea several times, in which, I visited Seoul, Busan and Jeju Island.
“I went Jeju for the ITOP Forum then, and the government officials from Jeju also came to Penang later,” Yeoh said.
Chi Beom was happy to note that Penang shared a ‘sister city relationship’ with three South Korea cities.
“I believe that Penang is the only place that shared a ‘sister city relationship’ with three South Korea cities. This is evident that many Koreans like and are interested in Penang,” he said.
He also praised Penang for being at the forefront of recycling initiatives.
“The South Korean government is also supportive of green initiatives. We are happy to assist the Penang government if there are any collaboration opportunities,” Chi Beom said.
Chow said there are various opportunities in tourism, trade and culture, for Penang and South Korea to work together.
“There are many countries that have chosen Penang or have appointed honourary consuls in Penang to promote bilateral relationship. Currently, we have 22 honourary consuls in the state, representing the various countries.
“We welcome South Korea to also consider appointing an honourary consul in Penang if there is a need,” he said.
Chi Beom said it was very meaningful for Chow to propose the idea of appointing an honourary consul.
“We will consider the proposal,” he said.
Chow said that the state government was delighted when South Korean semiconductor giant, Simmtech Holdings Inc., had chosen Penang as the strategic location to build its ‘first in the region’ printed circuit board (PCB) and packaging substrate factory.
It was reported that Simmtech’s Phase One investment in Penang, through its subsidiary Sustio Sdn Bhd, is US$120 million (RM508 million).
Ung Hun said that the construction of the factory in Batu Kawan is currently ongoing.
Chow hoped that the success of Simmtech in Penang would encourage more Korean investors to come to Penang.
“Batu Kawan is seeing a lot of activities now. We are excited with the development there.
“We hope your meeting with InvestPenang will be a fruitful one,” Chow added.
Story by Christopher Tan
Pix by Law Suun Ting