Malaysia expressed its eagerness to learn from South Korea, emphasising mutual learning and cooperation in hydrogen technology, in a resounding call for collaboration and long-term progress.

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

“Malaysia, like South Korea, is aggressively pursuing the development of a hydrogen economy.” As we all know, hydrogen has the potential to be a powerful enabler of the energy transition because it provides a clean, sustainable, and flexible option for a resilient, low-carbon economy.

“Let me assure you that the Malaysian government 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, particularly from Korea,” Nik Nazmi said in his opening remarks at the “Malaysia-Korea Sustainable Energy Summit 2023,” held here on Thursday in conjunction with the 40th anniversary of the two countries’ Look East Policy (LEP).

We believe Malaysia’s energy transition initiatives will succeed in resolving the energy trilemma

Nik Nazmi Nik Ahmad

He stated that the recently released Hydrogen Economy and Technology Roadmap (HETR) outlines hydrogen as a clean energy source to reduce pollution and improve energy security, while emphasising its significance in the country’s transition to renewable and low-carbon energy.

According to the roadmap, Malaysia could achieve a 0.4% to 1.3% reduction in greenhouse gas emissions by 2030, as well as significant revenue contributions to the GDP and the creation of thousands of jobs in the clean energy sector.

These figures are expected to rise by 2050, establishing Malaysia as a major hydrogen exporter in the Asia-Pacific region, generating significant revenue and job opportunities while also contributing to a 15% reduction in GHG emissions, he said.

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

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

“We believe Malaysia’s energy transition initiatives will succeed in resolving the energy trilemma.” It will create high-paying jobs, attract domestic and foreign investment, and ensure Malaysia’s green energy supply continuity,” he said.

Meanwhile, South Korean Ambassador to Malaysia Yeo Seung Bae stated that the summit will serve as a catalyst for tangible collaborative projects, paving the way for both countries to have a more sustainable and energy-efficient future.

The summit, co-hosted by NRECC and the South Korean embassy in Kuala Lumpur, drew over 60 Malaysians, including high-ranking NRECC officials 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).