Bioeconomy Corp, South Korea's K-Eco Sign MoU To Advance Sustainable Bioenergy
KUALA LUMPUR, June 15 (Bernama) -- The Malaysian Bioeconomy Development Corporation (Bioeconomy Corp) and South Korea’s Korea Environment Corporation (K-Eco) have signed a memorandum of understanding (MoU) to strengthen cooperation in biogas development and carbon neutrality initiatives.
Bioeconomy Corp said in a statement today that the MoU was signed here during the Biogas Towards Carbon Neutrality Workshop organised by K-Eco in collaboration with the South Korean embassy in Malaysia.
“The MoU establishes a framework for cooperation in the biogas sector, including knowledge sharing, technical collaboration, policy exchange, capacity building, project development, research and innovation, and the promotion of sustainable bioenergy solutions,” it said.
The workshop was officiated by Science, Technology and Innovation (MOSTI) Minister Datuk Chang Lih Kang and attended by representatives from government agencies, research institutions, international organisations and the private sector from both countries.
Bioeconomy Corp chief executive officer Mohd Khairul Fidzal Abdul Razak said the collaboration comes amid growing global interest in sustainable bioenergy and circular economy solutions.
“Globally, billions of tonnes of organic waste are generated each year, yet less than five per cent of sustainable feedstock potential is currently utilised for biogas and biomethane production.
“This presents a significant opportunity for countries like Malaysia and South Korea to work together in transforming waste into value through innovation, knowledge exchange, and expertise sharing, while unlocking new economic and environmental pathways for both countries,” he said.
K-Eco director general Seo Seung-Myeong highlighted the corporation's experience in implementing South Korea's environmental policies, including greenhouse gas reduction programmes, support for the Korea Emissions Trading Scheme (K-ETS), cooperation under Article 6 of the Paris Agreement, and biogas production from organic waste.
“South Korea and Malaysia share a common commitment to building a sustainable future, and through today’s MoU and workshop, we hope to expand practical cooperation in biogas development, greenhouse gas reduction and the low-carbon transition while contributing to carbon neutrality and long-term environmental sustainability in both countries,” he said.
South Korean Ambassador to Malaysia Yeo Seung-bae said climate change requires international cooperation and collective action.
“South Korea highly values its partnership with Malaysia in promoting sustainable development and carbon neutrality.
“I am pleased to see government agencies, industry leaders, and experts from both countries come together to discuss practical solutions in the biogas sector and explore further cooperation under shared climate goals,” he said.
Bioeconomy Corp is an agency under MOSTI responsible for developing Malaysia's bio-based and biotechnology industries.
The corporation provides support and facilitation services for the development of Malaysia's bio-based and biotechnology industries, including in areas such as investment, research and development, commercialisation, talent development and regulatory matters.
The corporation supports businesses, academic institutions and the scientific community through facilitation and advisory services covering business development, investment, research and development (R&D), commercialisation, human capital development, financial assistance, and regulatory matters.
Its flagship programmes include BioNexus Status, a government-supported recognition awarded to eligible biotechnology companies that provides facilitation and incentives for business growth, as well as the Bio-based Accelerator programme, which helps emerging bio-based companies scale up and commercialise their innovations.
For further information, members of the public may visit www.bioeconomycorporation.my
-- BERNAMA