Khazanah Nasional Berhad (“Khazanah”) and Korea Investment Corporation (“KIC”) today signed a Memorandum of Understanding (“MoU”) to encourage cooperation and strengthen the business relationship between both organisations.
Both parties will benefit from this collaboration through the pooling of expertise and resources as well as exploring opportunities for business collaboration.
KIC is the government investment arm of the Republic of Korea with a total of USD25 billion assets under management.
Khazanah’s Managing Director, Tan Sri Dato’ Azman Hj Mokhtar signed on behalf of Khazanah while KIC President and CEO, Chin Young-wook signed on behalf of KIC.
“We are very honoured to be part of this strategic tie up, and hope that this tie-up will encourage cooperation and strengthen the business relationship between Khazanah and KIC for our mutual interest, that will be targeted to pave the way for two-way investments flow between the two entities,” Tan Sri Dato’ Azman said.
He added that the MoU is also expected to strengthen the bilateral relations between Malaysia and the South Korea as well as encourage cross investments and collaborations among private companies from both countries.
Tan Sri Dato’ Azman is in Seoul attending the World Economic Forum on East Asia Programme 2009 where he is one of the Co-Chairs of the Forum.
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