This investment includes efforts to upgrade Inokom’s existing assembly facilities to meet Hyundai’s automotive needs. It marks the South Korean automaker’s largest commitment in Malaysia for the 2025-2030 period.

Bernama reported investment, trade and industry minister Tengku Zafrul Aziz as saying the partnership is expected to create hundreds of high-paying, high-tech job opportunities for Malaysians.

It will also include the assembly and production of six car models, such as hybrid electric vehicles (HEVs), and the establishment of an EV battery pack assembly plant in Kulim, Kedah.

Tengku Zafrul shared the details with Malaysian reporters during Prime Minister Anwar Ibrahim’s three-day official visit to South Korea.

As part of the visit, Anwar held closed-door meetings with major South Korean conglomerates, including Hyundai Motor, Lotte, OCI Holdings, Samsung, SK Nexilis and Posco.

Malaysia and South Korea will celebrate 65 years of diplomatic relations next year.

South Korea is Malaysia’s seventh-largest trading partner, while Malaysia is South Korea’s 11th-largest trading partner.