REE: Korean company shows interest in cooperation – Saarani

By Aida

Photo FB Saarani

IPOH: Star Group Industries (SGI), a leading South Korean company producing rare earth element (REE) downstream products, has shown interest in establishing cooperation with Perak.

Menteri Besar Datuk Seri Saarani Mohamad said the company, which produces REE downstream products such as permanent magnets, also expressed a desire to visit Perak next month for further discussions regarding the cooperation.

“SGI, led by its founder and CEO, Kong Kun Seong, has shown interest in collaborating and expressed a desire to visit Perak next month for further discussions,” he said in a statement here today.

This positive development follows Saarani’s working visit with the state government delegation to Korea last Tuesday.

During the visit, the state government delegation also visited SGI’s factory in Daegu, which produces REE downstream products.

Saarani said the cooperation is expected to complete the automotive supply chain, especially in implementing the Automotive High-Tech Valley (AHTV) project in Proton City Tanjung Malim without the need to import raw materials from abroad.

“Permanent magnets are a crucial component widely used in the automotive industry.

“They are used in magnetically induced motors, hybrid generator magnets, integrated MOBIS electric brakes, electric power steering motors, and various other high-tech components,” he said.

He added that the cooperation will undoubtedly bring significant benefits to Perak, especially in providing job opportunities for the younger generation.

“Imagine how many job opportunities we can create through these new industries. Surely, it will benefit the people of Perak, especially the youth.

“May all the good plans for Perak be facilitated. God willing,” he said.

Saarani, along with the state government delegation, is on a working visit to South Korea and Japan from April 20 to 27.

The visit aims, among other things, to attract the interest of companies in both countries to invest in Perak, particularly in the mineral industry, electric vehicles (EVs), solid waste management, and green energy.

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