Malaysia A Strategic, Safe Investment Destination For Korean Entrepreneurs

From Zainal Abdul Jalil GUMI (South Korea), Dec 7 (Bernama) -- Malaysia is still a strategic and safe investment destination for South Korean entrepreneurs to pursue their country creative economic agenda, the Gumi Electronics & Information Technology Research Institute (GERI) said. Its electronic medical technology research director, Prof Byeong Mun Song said Malaysia has the criteria that catered to the needs of Korean investors. "The investment climate in Malaysia is still positive, especially its political stability, apart from having conducive policies and incentives, rich in raw materials and ample land. "However, Malaysia must work hard to attract Korean investors who are getting government assistance to pursue research and development (R&D)," he told Bernama after briefing a Malaysian university of Universiti Malaysia Perlis (UniMAP) delegation on GERI's operations here Saturday. UniMAP delegation was led by the Crown Prince of Malaysia's northernmost state Perlis Tuanku Syed Faizuddin Putra Jamalullail, who is also UniMAP chancellor. He was accompanied by UniMAP vice-chancellor Prof Emeritus Dr Kamarudin Hussin. Located in the Gimi Industrial Park, Gyeongbuk, about 200 km from Seoul and 150 km from Busan, South Korea's largest port, GERI's products are exported throughout the world, including Europe. Song said Korean companies were becoming more creative by venturing into ICT-based technologies which entailed convergence and fusion. "We are ready to transfer technology, as well as develop and manufacture products in Malaysia, but the final stage must be done in Korea and labelled 'Made in South Korea' because consumers are more confident in Korean brands," he said. GERI has allocated US$200 million to implement several new projects within the next few years, besides having separate budgets for ongoing R&Ds, he added. Man&tel chief executive officer Prof Kwang-Wook Jung said Korean companies needed new and more spacious areas to operate, as well as reliable partners. "I am confident that Malaysia is a strategic base for Korean companies to expand their investments besides becoming a hub for the Asian region. "Korean companies' strength differ, but their products and equipment are of high quality and cheaper. Wherever the products are produced, the quality is similar like those churned out in our factories in Korea," he said. He said telecommunication related electronic and electrical products produced by Man&tel were exported to 40 countries, including European countries, while the US was its major market since five years ago. Meanwhile, Kamarudin said Jung, who is UniMAP visiting professor, has assured UniMAP of his assistance in R&D (B-business) and the creative works produced by its students that could be commercialised. Earlier, the UniMAP delegation visited a Samsung mobile phone factory in the Gumi Industrial Park and Man&tel after touring a GERI factory. --BERNAMA