Yoon Holds Summit with Malaysian Prime Minister... Establishing Strategic Partnership (Comprehensive)

Strengthening Cooperation with Goal of FTA Agreement Next Year
Defense, Energy, and Supply Chain 'Join Hands'

President Yoon Suk-yeol and Malaysian Prime Minister Anwar Ibrahim are taking a commemorative photo before their summit meeting at the Presidential Office in Yongsan, Seoul, on the 25th. Photo by Yonhap News

President Yoon Suk-yeol held a summit meeting with Malaysian Prime Minister Anwar Ibrahim, who officially visited Korea on the 25th, at the Yongsan Presidential Office, and the two countries agreed to engage in all-round cooperation through the establishment of a 'strategic partnership.' In particular, the two leaders agreed at this meeting to conclude the Korea-Malaysia Free Trade Agreement (FTA) negotiations, which resumed after five years since 2019, by next year.

The Presidential Office stated that through the summit meeting between President Yoon and Prime Minister Anwar on the morning of the day, at a time approaching the 65th anniversary of diplomatic relations between Korea and Malaysia next year, they agreed to build a strategic partnership to establish a mutually beneficial partnership and strengthen trade and infrastructure investment. They also agreed to establish an institutional foundation to expand cooperation in areas such as defense and defense industry, energy, climate change response, critical minerals, and supply chains.

President Yoon said, "I consider it meaningful that the two countries have established a strategic partnership," adding, "I hope that cooperation between the two countries will expand beyond trade, investment, and human exchanges to defense, defense industry, green hydrogen, critical minerals, and future industries."

He continued, "Korea and Malaysia have closely cooperated as key partners of the East Asia policy," and emphasized, "In the face of increasing global complex crises, I hope the solidarity between the two countries to achieve peace, stability, and prosperity in the region and the world will also be strengthened."

Prime Minister Anwar said, "Malaysia and Korea have been elevated to a strategic partnership, and through this, we hope to work together comprehensively in various fields," adding, "There are defense industry, defense, national security, economy, and other global issues mentioned by President Yoon, and furthermore, new areas we can address include artificial intelligence (AI) and digital sectors."

Prime Minister Anwar also introduced his connection with Korea. He said, "Korean companies established the Penang Bridge in Malaysia, and I am also from Penang," explaining, "Korean companies built the Petronas Twin Towers and contributed to the construction of the supertall building Merdeka118, greatly contributing to the relationship between Korea and Malaysia."

On this day, the two leaders issued a joint statement on the establishment of a strategic partnership and confirmed their commitment to strengthening ▲political and security cooperation ▲economic cooperation ▲culture, education, and tourism ▲regional and international cooperation.

President Yoon Suk-yeol and Malaysian Prime Minister Anwar Ibrahim are holding a summit meeting at the Presidential Office in Yongsan, Seoul on the 25th. Photo by Yonhap News

In particular, aiming to conclude the FTA negotiations by next year, they plan to upgrade the existing negotiations on goods to a future-oriented comprehensive FTA by adding service, investment, digital, bio, and green sectors.

Defense and defense industry cooperation will also be strengthened. President Yoon actively requested interest in the participation of Korean companies in Malaysia's next defense projects, including the 'second phase of light attack aircraft replacement' planned for next year. They also reaffirmed their intention to expand exchanges between the two countries' defense authorities and strengthen cooperation in maritime security and law enforcement.

They will also work together on energy and climate change response. The scope of energy cooperation between the two countries, which has so far focused on liquefied natural gas (LNG), will be expanded to future industries such as renewable energy and greenhouse gas reduction. Both countries, which are focusing on fostering the hydrogen industry as a clean energy source and future growth engine, agreed to expand mutually beneficial cooperation, including green hydrogen production, to seek synergy creation.

Furthermore, they agreed on the importance of sending a united message regarding North Korea's provocations and the deepening of Russia-North Korea military cooperation. The two leaders jointly condemned North Korea's ballistic missile launches, including intercontinental ballistic missile (ICBM) tests, and strongly urged restraint from further provocations and illegal acts.

A Presidential Office official said, "Malaysia is Korea's third-largest trading partner and fourth-largest investment destination among ASEAN countries," adding, "Korea plans to promote close cooperation with Malaysia, the ASEAN chair country next year, as part of the full implementation of the 'Korea-ASEAN Comprehensive Strategic Partnership' established during this year's Korea-ASEAN Summit."

Prime Minister Anwar's visit to Korea is his first since taking office in November 2022 and marks the first visit by a Malaysian prime minister in five years.