Prime Minister Datuk Seri Najib Razak (second from left) being briefed on a road and drainage project during his visit to Cheonggyecheon, South Korea, yesterday. With him are International Trade and Industry Minister Datuk Seri Mustapa Mohamed (third from left) and Works Minister, Datuk Shaziman Abu Mansor (fourth from left). — Bernama picture

At the end of a highly successful three-day working visit, Najib told newsmen of the warm reception accorded to his delegation and the personal friendship shown by South Korean President, Lee Myung-Bak.

At a dinner he hosted for the Najib on Tuesday night, Lee expressed his confidence in Najib's leadership, saying that Malaysia's transformation programmes, which requires an annual growth of six per cent up to 2020, was robust and realistic.

He said Malaysia was a rock-solid economy, as evidenced by its successful emergence from both the 1998 Asian and the recent 2009 global economic crises.

Fruits from Najib's visit, which reciprocated the one Lee made to Malaysia late last year, came early.

High-technology South Korean company, OCI Co Ltd's subsidiary, Elpion Silicon Sdn Bhd, has confirmed an initial investment of between RM600 million and RM700 million to build a metallurgical grade silicon plant in Banting, Selangor.

The plant, which is expected to be commissioned in 2014 and employ about 600 people, will manufacture products for use in the manufacture of solar panels.

Najib toured OCI's research and development facility here yesterday before flying home.

He also met with top executives of the giant Lotte Group and the South Korean diversified corporation confirmed its interest in looking for a site in Malaysia to build a hotel, a department store and a hypermarket.

Another company, LG-Vens, a unit of the LG group, has expressed interest in exploring development of electric cars, electric fuel cells and also facilities for such vehicles with Proton.

The Honam Group, which recently spent US$1.3 billion (RM3.9 billion) to buy over Titan Chemicals Bhd in Malaysia, said it will be pumping in an additional US$100 million within the next one year to increase efficiency at the plant, Najib said.

Najib said several more South Korean companies were discussing with the Malaysian Industrial Development Authority about investing in high-technology industries.

He said the South Korean companies he met were bullish about Malaysia's aggressive transformation programmes and that they saw plenty of opportunities for South Korean companies amid Malaysia's efforts to turn itself into a developed and high-income nation by 2020.

Najib said with the excellent bilateral and economic relations enjoyed between South Korea and Malaysia, people-to-people relations between them has also strengthened. More South Korean tourists are expected to come to Malaysia from the current number of about 230,000 a year.

Najib also said about 500 South Koreans have taken part in the "Malaysia My Second Home" programme and there were now some 23,000 South Koreans either working or studying in Malaysia.

Najib's private meeting with Lee was productive as both leaders also discussed ways to improve the currently US$16 billion a year bilateral trade between the two nations.

"We will study within the next one year whether establishing a Korea- Malaysia Free Trade Agreement is feasible," the prime minister said.

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