Malaysia keen to learn from South Korea to advance hydrogen economy development

KUALA LUMPUR, 2 NOVEMBER 2023: In a resounding call for collaboration and sustainable progress, Malaysia expressed its keenness to learn from South Korea, emphasising on mutual learning and cooperation in hydrogen technology.

Natural Resources, Environment and Climate Change (NRECC) Minister Nik Nazmi Nik Ahmad, in recognising the expertise of South Korean counterparts, said that it is a pivotal step in advancing Malaysia’s hydrogen technology capabilities towards complementing the nation’s own hydrogen economy development efforts.

“Much like South Korea, Malaysia is actively pursuing the development of a hydrogen economy. As we are well aware, hydrogen has the potential to be a powerful enabler for energy transition, as it offers a clean, sustainable, and flexible option for a resilient and low-carbon economy.

“Let me assure you that the government of Malaysia is open to business and foreign investment, and that we are willing to assist companies from abroad wishing to expand here or deepen their existing presence, especially from Korea,” said Nik Nazmi in his opening remark at the “Malaysia-Korea Sustainable Energy Summit 2023” held here in conjunction with the 40th anniversary of the Look East Policy (LEP) of the two nations on Thursday.

He said the newly-launched Hydrogen Economy and Technology Roadmap or HETR outlines hydrogen as a clean energy source to reduce pollution and enhance energy security while emphasising its importance in the country’s transition to renewable and low-carbon energy.

The roadmap, launched last month, projects that by 2030, Malaysia could achieve a 0.4 per cent to 1.3 per cent reduction in greenhouse gas emissions and generate substantial revenue contributions to the GDP, along with the creation of thousands of jobs in the clean energy sector.

By 2050, these figures are expected to increase, positioning Malaysia as a major hydrogen exporter in the Asia-Pacific region, with significant revenue and job opportunities, while also contributing to a 15 per cent reduction in GHG emissions, he added.

In addressing the trilemma faced in the energy sector, namely balancing sustainability, security, and affordability, the Minister also underscored that Malaysia’s energy transition initiatives is aimed at striking this delicate balance.

He noted that the energy transition is an integral part of the country’s broader initiative to restructure the Malaysian economy under the Ekonomi MADANI framework, while the National Energy Transition Roadmap or NETR is a cornerstone in shaping Malaysia as a regional leader in energy transition among Asian economies.

“We are optimistic that Malaysia’s energy transition initiatives will succeed in balancing the energy trilemma. It will generate high-paying job opportunities, attract domestic and foreign investments, and ensure the continuity of Malaysia’s green energy supply,” he said.

Meanwhile, South Korean Ambassador to Malaysia Yeo Seung Bae said the summit serves as a platform not only for knowledge exchange but as a catalyst for tangible collaborative projects, setting the stage for a more sustainable and energy-efficient future for both nations.

The summit, which was co-hosted by NRECC and the South Korean embassy here in Kuala Lumpur, brought together over 60 attendees from Malaysia, including high-ranking officials from NRECC and approximately 40 representatives from various government agencies and key South Korean companies such as the Ministry of Trade, Industry, and Energy (MOTIE), Korea Energy Economics Institute (KEEI), and Korea Energy Agency (KEA).
Source: Malaysia China Insight

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