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S. Korea-Malaysia ties to provide opportunities for technology development and adapting Hallyu for Halal culture Updated: 2019-11-20 16:10:03 KST

Pristine beaches and dense rainforests that are home to endangered species Malaysia is also a mix of cultures and hub for regional travel.
It is separated into two parts: Peninsular Malaysia and East Malaysia, on the island of Borneo, and is home to an estimated 32 million people.
More than 80-percent of the population are under the age of 54 , and this young population from a mix of cultures is witnessing the country's rapid development.
Malaysia's GDP has been growing at an average of a little less than five-percent a year since 2015, and last year's GDP was 354 billion U.S. dollars, with a per capita income of around ten-thousand U.S. dollars.
Further growth can be expected as Malaysia has successfully diversified its economy away from exporting raw materials, and sees a future as a self-sufficient industrialized country.
The trade between South Korea and Malaysia have been continuously rising, with their trade volume reaching around 19 billion U.S. dollars last year.
Malaysia's main exports to Korea are natural resources, semiconductor integrated circuits and crude oil. In return, South Korea is exporting petrochemicals and semiconductors worth around nine-billion U.S. dollars.
South Korea and Malaysia decided to push for a bilateral Free Trade Agreement before the end of this year.
Both countries are expecting the deal to bring them new opportunities.

"If we settle FTA within this year, promoting the combination of Korean wave, or Hallyu and Malaysia's halal, would be possible. Also, since Malaysia is a well-known leader in manufacturing, Seoul will be able to combine technology that it has been working on such as robotics and smart cities, with the manufacturing infrastructure Malaysia already has, thus leading the global market together in the Fourth Industrial Revolution."

With stronger ties between the two countries, hopes are high that both countries will be able to create a new model of cooperation in the fields of technology and new culture.
Kim Bo-kyoung, Arirang News.
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