Anwar Meets South Korea’s Business Tycoons, Eyes More Investments

From Mohd Shukri Ishak

SEOUL, Nov 26  (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim held a meeting today with several family-owned business tycoons, locally known as "chaebols", as part of efforts to attract more foreign direct investment (FDI) into Malaysia.

Chaebols are representatives of large, family-owned industrial conglomerates in South Korea, which have traditionally enjoyed close ties with the government.

Federal support for these entities began after the Korean War as part of efforts to rebuild the nation's economy.

Anwar, the Finance Minister, is also scheduled to hold one-on-one meetings starting at 9.00 am (South Korea time) with major corporations, including Samsung Group, SK Nexilis, POSCO Group and Lotte International.

These discussions align with Malaysia's strategy to secure 'high-value, high-growth' investments from the Republic of Korea.

-- BERNAMA