BUSAN: Malaysia and South Korea are expected to sign a memorandum of understanding to deepen collaboration in the energy sector by the end of this year.
Deputy Prime Minister Datuk Seri Fadillah Yusof said the MOU would likely be signed in October or November during the 46th ASEAN Summit.
He stated that the agreement would explore cooperation in clean energy technology, including nuclear energy and human capital development.
The partnership will also cover technology transfer, safety measures, energy security and other related areas.
Fadillah made these comments to reporters after visiting Doosan Enerbility during his official working trip to Busan.
His visit coincides with the 15th APEC Energy Ministers’ Meeting which runs until 29 August.
According to trade data, Malaysia was South Korea’s 11th largest trading partner from January to July 2025.
Total trade between the two countries reached 15.69 billion US dollars during this period.
South Korea’s exports to Malaysia amounted to 6.91 billion US dollars, showing a 15.2% increase from the same period in 2024.
Malaysia’s exports to South Korea stood at 8.77 billion US dollars, marking a 12.9% year-on-year growth.
Bilateral trade between Malaysia and South Korea totalled 24.42 billion US dollars in 2024. – Bernama