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President Lee Jae-myung shakes hands with Malaysian Prime Minister Anwar Ibrahim before their bilateral summit at the Kuala Lumpur Convention Centre in Malaysia on October 27. / Source: Yonhap News

President Lee Jae-myung and Malaysian Prime Minister Anwar Ibrahim held a bilateral summit in Kuala Lumpur on October 27, reaching a final agreement on a Korea–Malaysia Free Trade Agreement (FTA).

According to presidential spokesperson Kang Yoo-jung, the two leaders met on the sidelines of the ASEAN Summit and celebrated the conclusion of the FTA, expressing optimism that it would “significantly expand bilateral trade and investment.”

“The leaders welcomed the successful conclusion of FTA negotiations between Korea and Malaysia,” Kang said in a written briefing. “They agreed that the pact will serve as a foundation to strengthen their partnership as key economic collaborators in the region, particularly in strategic sectors such as digital technology and artificial intelligence (AI).”

Prime Minister Anwar described South Korea as a “trusted and important partner” in Malaysia’s efforts to enhance its defense capabilities. He added that a newly signed memorandum of understanding (MOU) on defense industry cooperation would further deepen bilateral collaboration in that field.

The two leaders also highlighted the vast potential for cooperation in future-oriented areas including smart infrastructure and energy transition, pledging to expand ties across these sectors.

President Lee asked for Malaysia’s continued support and cooperation in advancing peace and shared prosperity on the Korean Peninsula. In response, Anwar reaffirmed his support for Seoul’s policies toward peace and stability, vowing to work closely with the international community to help those efforts bear fruit.