With the inaugural Korea-Mekong Summit between Korea and the five countries along the Mekong River – Cambodia, Laos, Myanmar, Thailand and Vietnam – and the Korea-ASEAN (Association of Southeast Asian Nations) special summit coming up in November in Busan, Korea.net explores the results of President Moon Jae-in's visits to all 10 ASEAN member countries since his inauguration, Korea's exchanges with these nations and the potential for economic cooperation.

By Kim Yeong Deok and Lee Jihae
Photos = Cheong Wa Dae

President Moon Jae-in has called Malaysia a promising partner for making a joint advance into the global halal market and responding to the Fourth Industrial Revolution.

During his visit to the Southeast Asian country earlier this year, the president on March 14 gave a keynote address on bilateral economic cooperation and their strategic partnership based on the New Southern Policy at the 2019 Korea-Malaysia Business Forum in the Malaysian capital of Kuala Lumpur.

Malaysia: global hub of halal industry

President Moon on March 12 attended an exhibition of Hallyu and halal products at 1 Utama Shopping Center in Kuala Lumpur.

Malaysia boasts one of the world's strongest infrastructures for halal certification, with the government leading the system. A Korean corporation recently formed a joint venture with a Malaysian counterpart to launch the halal-certified noodles Daebak Ramyeon, a product being exported to Korea. The term daebak in Korean means "huge success."

At the exhibition, President Moon stressed the synergy effect the two countries can create and that bilateral cooperation will offer an incentive to target the global halal market.

He also ratified a memorandum of understanding (MOU) on Korean-Malaysian cooperation in the halal sector. Both governments said they hope the agreement will facilitate the advance of Korean and Malaysian corporations into the global halal market.

Joint response to 4th Industrial Revolution

Also in Kuala Lumpur, President Moon also ratified another MOU on industrial cooperation in response to the Fourth Industrial Revolution (Industry 4.0). The accord laid the cornerstone for bilateral efforts toward smart manufacturing and electric cars.

Malaysia is the only member country of the Association of Southeast Asian Nations (ASEAN) to produce domestically made cars, recently focusing on developing electric and self-driving cars as part of its fourth policy toward national vehicles.

President Moon lauded Kuala Lumpur's policy and hoped for synergy effects combined with Korean technology, with bilateral cooperation in future vehicle technology expected to open new markets for electric cars in the ASEAN region.

kyd1991@korea.kr