South Korea's Yoon, Malaysia's Anwar agree to cooperate in defence, minerals
SEOUL, Nov 25 (Reuters) -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.
South Korea invited continued interest from Malaysia as it embarks on a project to replace light fighter jets, after a 2023 contract to supply 18 jets valued at $920 million, Yoon's office said in a statement.
The countries also agreed to establish an institutional foundation to cooperate on climate change, including for a previously signed memorandum of understanding on a carbon capture and storage project, which is scheduled to launch in 2029.
Yoon and Anwar also shared concern over the growing military cooperation between North Korea and Russia, and the humanitarian crisis in Gaza and violence in Lebanon due to the Middle East conflict.
Reporting by Jack Kim
Editing by Ed Davies
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
