SEOUL: On Monday, November 25, South Korea and Malaysia struck a deal to increase defense industrial collaboration as the Southeast Asian nation seeks to modernize its air force planes and to work together to deliver vital minerals from Malaysia’s reserves.
At a summit, South Korean President Yoon Suk Yeol and Malaysian Prime Minister Anwar Ibrahim also pledged to finalize a free trade deal by the end of the year, which would cover other sectors like services, investment, and green energy, according to Yoon’s office.
Following a 2023 contract to deliver 18 jets valued at US$920 million, Yoon’s office said in a statement that South Korea urged Malaysia to continue its interest in its initiative to replace light fighter jets.
Additionally, the nations decided to create an institutional framework for climate change cooperation, including a memorandum of understanding on a carbon capture and storage project that has already been signed and will begin in 2029. Yoon and Anwar also expressed concerns about the humanitarian situation in Gaza, the violence in Lebanon brought on by the Middle East conflict, and the expanding military collaboration between North Korea and Russia.
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