KUALA LUMPUR – Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz has refuted allegations that the federal government is sabotaging Kedah’s administration, citing Hyundai’s RM2.16 billion investment in the state as clear evidence.
“This investment demonstrates that we have never sabotaged Kedah. On the contrary, we have facilitated major investments like this to boost the state’s development,” he said on Facebook.
The minister is currently accompanying Prime Minister Datuk Seri Anwar Ibrahim in an official visit to South Korea.
Hyundai Motor will start a strategic partnership with INOKOM for the automotive assembly of several new models in Malaysia next year through the new investment.
This investment includes efforts to upgrade INOKOM’s existing assembly capacity to meet Hyundai’s automotive needs.
Tengku Zafrul said it was the company’s biggest investment in Malaysia for a period of six years (2025-2030) which will offer hundreds of high-paying and high-tech job opportunities to locals.
The investment involved the assembly and production of six car models including hybrid electric vehicle (HEV) models as well as an EV battery pack assembly factory in Kulim, Kedah, Tengku Zafrul told reporters, as quoted by Bernama.
The prime minister also held a closed door meeting with several South Korean conglomerates including Hyundai Motor, Lotte, OCI Holdings, Samsung, SK Nexilis and POSCO.
The prime minister and delegation arrived in Seoul on Sunday in conjunction with a three-day official visit to further strengthen the existing bilateral relations between Malaysia and South Korea.
Malaysia and South Korea will celebrate the 65th anniversary of diplomatic relations between the two countries next year.
South Korea is Malaysia’s seventh largest trading partner while Malaysia is South Korea’s 11th largest trading partner. – November 26, 2024