OCI Group Chairman Lee Woo-hyun Reaffirms Willingness to Cooperate with Malaysian Prime Minister

Meeting with Prime Minister Anwar Ibrahim

Lee Woo-hyun, Chairman of OCI Holdings, met with the Prime Minister of Malaysia to discuss cooperation plans, including solar power projects underway locally.

OCI Holdings announced on the 27th that on the 25th, at the Shilla Hotel in Jung-gu, Seoul, during a meeting with Dato' Seri Anwar bin Ibrahim, Prime Minister of Malaysia, who was on an official visit to Korea, both sides reaffirmed their mutual trust and commitment to cooperation.

Lee Woo-hyun, Chairman of OCI Holdings (third from the right), is discussing ways to expand mutual cooperation with Anwar Ibrahim, Prime Minister of Malaysia (fifth from the right), on the 25th. (Provided by OCI Holdings)

The meeting was attended by key OCI Group executives including Chairman Lee, Vice Chairman Kim Taek-jung, and President Kim Yoo-shin, while the Malaysian side included about ten officials such as the Minister of Investment, Trade and Industry and the Minister of Foreign Affairs.

Chairman Lee said, "Malaysia is one of the company's major production bases, where we produce non-Chinese solar polysilicon and supply it to global markets such as the United States," adding, "We ask for Malaysia's interest and support so that we can contribute to job creation and economic revitalization based on the local community."

Prime Minister Anwar Ibrahim responded, "OCI Group's plan to expand investments in the solar power and semiconductor materials sectors in Malaysia aligns with our goal of creating a sustainable future," and added, "It is important for the development of related industries and will contribute to improving the local supply chain by reliably supplying the high-quality materials needed."

Chairman Lee previously met with Prime Minister Anwar Ibrahim and other Malaysian central government officials at the global investment attraction event 'KL20 Summit 2024' held in Kuala Lumpur, Malaysia, in April, where they signed a business cooperation agreement for an investment worth 850 billion KRW.

Currently, OCI M is undertaking an expansion project to increase its polysilicon production capacity for solar power from the existing 35,000 tons to 56,600 tons. OCI Group is also promoting the establishment of production facilities in Malaysia for 100,000 tons annually each of epichlorohydrin (ECH) used in electric vehicle and wind power blades by OCI Kumho, and chlor-alkali (CA) used for cleaning secondary battery materials, as well as a joint venture (JV) with Tokuyama for semiconductor-grade polysilicon.

An OCI Holdings official said, "OCI M, located in the Bintulu Samalaju Industrial Park in Sarawak, Malaysia, currently employs about 1,000 staff and is leading local workforce-centered hiring, thereby increasing its presence within Malaysia."