KUCHING: Investors from Korea are attracted by the advantages that Sarawak has to offer, with many of them expressing their intention to expand their businesses here.

Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan said this was evident during a visit arranged by the Ministry of Industrial and Entrepreneur Development to South Korea recently.

“The Sarawak delegates held numerous meetings, which successfully opened up many opportunities with investors from Korea. We witnessed the handover of land approval for the Dongjin Semichem Co Ltd plant, which will open in Samalaju in 2021,” he said before leaving home for Malaysia.

During the visit, Awang Tengah also witnessed the exchange of contracts between Sarawak Petchem and Samsung Engineering for the development of a RM5.7 billion methanol processing plant at Tanjung Kidurong in Bintulu.

He added that some of factors that drew Korean investors to expand their business into Sarawak included competitive electricity tariff rate, logistics infrastructure and the flexibility offered by the Sarawak government. Awang Tengah also visited Dongjin Semchem processing plant. It is learnt that the company has a market share of 30 per cent globally for its foaming agent, which is usually used in daily products such as shoes, furniture and automotive spare-parts.

“We have also invited a few (Korean) companies to visit Sarawak and see the advantages that Sarawak has to offer,” he said in a statement received here yesterday.

The Sarawak delegation was also involved in business dialogue with business owners in South Korea, which was also attended by Chief Minister Datuk Patinggi Abang Johari Tun Openg.