Darell’s trade mission to S. Korea generates potential sales of RM1b

KUALA LUMPUR: The International Trade and Industry Ministry’s trade and investment mission to Seoul, which ended on Saturday, garnered RM1 billion in potential sales.

The ministry said the mission, led by International Trade and Industry Minister Datuk Darell Leiking, comprised 54 delegates comprising state executive council members from Johor, Terengganu, Melaka and Penang, as well as state government/investment agencies from Johor, Melaka, Terengganu, Sabah, Perak, Kedah, Selangor and Penang.

“A total of 137 individual business meetings were arranged,” it said in a statement yesterday.

The mission also managed to secure potential investments worth RM711.4 million from four companies involved in the chemicals, electrical and electronics, and household appliances sectors, it said.

The companies were Dongjin Semichem, which planned to invest RM499.2 million, Cuckoo Homesys Co Ltd (RM104 million), CORE Tech Co Ltd (RM74.9 million) and YoungReem Tech Co Ltd (RM33.3 million).

During the mission, the ministry said Darell held discussions on bilateral economic cooperation between the two countries with South Korea’s Vice-Minister for Ministry of Trade, Industry and Energy, Cheong Seungil.

They also discussed potential cooperation under the Look East Policy 2.0 and in the areas of halal industry and high-end technology sectors such as Artificial Intelligence, Internet of Things, blockchain and medical devices, it added.

A total of 137 individual business meetings were arranged. INTERNATIONAL TRADE AND INDUSTRY MINISTRY