S. Korea and Malaysia aim to enhance cooperation in defence industry

SEOUL – South Korea and Malaysia signed an agreement on Monday to cooperate in supplying critical minerals from Malaysia’s reserves and to boost cooperation in the defence industry as the Southeast Asian country looks to upgrade its air force jets.

South Korean President Yoon Suk Yeol and Malaysian Prime Minister Anwar Ibrahim also shared their commitment at a summit to conclude a free trade agreement by next year, which would include additional areas such as services, investment, and green energy, Yoon’s office said.

“I hope the bilateral cooperation would expand beyond trade, investment, and people-to-people exchanges to include defence, the arms industry, and emerging fields, such as green hydrogen and key minerals,” President Yoon said in his opening remarks.

South Korea Aerospace Industries signed a deal in May 2023 to supply 18 FA-50 jets to Malaysia and is also targeting the Southeast Asian nation’s upcoming project to procure additional light attack jets.

On the sidelines of the summit, both governments signed memoranda of understanding to facilitate collaboration in critical mineral supply chains, carbon capture and storage technologies, greenhouse gas reduction projects, and tourism.