FDI from South Korea totals USD1.5 billion

Abang Johari (third right) poses for a group photo with Seoul’s Mayor Park (third left) at the Seoul City Hall together with Awang Tengah (second left), State Secretary Tan Sri Mohd Morshidi Abdul Ghani (right) and others.

SEOUL, South Korea, April 4: Sarawak has received a total of USD1.5 bil (RM 6.12 bil) in foreign direct investment (FDI) from South Korea, mainly in petrochemical and high tech industries, revealed Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan.

He disclosed this figure to the media yesterday after he accompanied Chief Minister Datuk Patinggi Abang Johari Tun Openg in paying courtesy call on Mayor of Seoul, Park Won Soon at the Seoul City Hall.

Apart from the courtesy call, the Sarawak delegation also visited the Seoul City Control Centre which is also located in the same building.

The day before, Awang Tengah, who is also Minister of Industrial and Entrepreneur Development presented the land approval letter for Dongjin Semchem Co Ltd factory in Samalaju Industrial Park, Bintulu.

The approval letter was presented to Dongjin Semchem Co Ltd Chief Executive Officer Lee Boo Sup.

Dongjin Semchem is investing in a foaming agent manufacturing plant with investments worth USD130 mil (RM420 mil). The factory is expected to be completed by 2021 and will offer 500 job opportunities.

Awang Tengah, is currently leading Sarawak’s delegation to South Korea have also met with five potential investors. The companies are mainly involved in businesses such as iron and steel manufacturing, plantation, and petrochemical. — DayakDaily