SAMSUNG AMONG 15 MAJOR KOREAN COMPANIES KEEN TO EXPAND IN MALAYSIA

From Nurul Afida Kamaludin

SEOUL, July 28 (Bernama) -- The Samsung Group is among 15 major companies
from South Korea expressing interest to expand their investments and venture
into new areas in Malaysia in the near term, Deputy Prime Minister Muhyiddin
Yassin said Wednesday.

The Samsung Group's investment which is expected to run into billions of
dollars will be in several areas, covering a five-year period.

Muhyiddin said the Korean companies were interested in new areas like green
technology, solar energy, renewable energy and biotechnology which are fast
growing in Malaysia.

Apart from that, some are keen to expand their investments in Malaysia in
various sectors including petrochemicals, refinery, ship building, electric
vehicles, food and beverage, as well as opening up new offices.

"Besides, they are confident of Malaysia as we have all the various
facilities needed and we offer attractive incentives," Muhyiddin told Malaysian
journalists here after a courtesy call on South Korean Prime Minister
Chung Un-chan at the Central Government Complex here Wednesday.

He said Chung also expressed South Korea's readiness to work with Malaysia
in the area of nuclear energy in the future.

Muhyiddin said the Malaysian government was ready to smoothen the process
for the companies wanting to invest in Malaysia.

On the same note, he said Malaysia would have to work hard to bring
investments into the country as it was facing stiff competition from China,
India and Vietnam.

Meanwhile, heading his delegation's visit to Samsung town in Suwon, 30
km from here, this afternoon, Muhyiddin expressed his appreciation to the
Samsung Group for wanting to increase its investment in Malaysia.

Samsung Group President for Malaysia, Lee Sang-Bai had earlier
informed that the multinational company was looking for a suitable location in
two states in Malaysia for its latest project.

He said the company was planning big investments in the area of LED,
shipbuilding, solar energy and defence.
-- BERNAMA


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