IPOH, April 26 — The Perak state government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Perak Menteri Besar Datuk Seri Saarani Mohamad said the company will visit the state next month and further details regarding the collaboration will be discussed in a meeting involving both parties.

“SGI, which is led by the founder and chief executive officer Kong Kun Seong, has shown interest in working together and expressed his desire to visit Perak next month to discuss further.

“This is a positive development and it is a follow-up to the state government’s work visit there where we were also taken to visit the SGI factory in Daegu, which produces REE downstream products,” he said in a Facebook post today.

Saarani led a state government delegation on a working visit to South Korea and Japan from April 20 to 27, 2024.

The purpose of the visit is to attract companies from both countries to invest in Perak, particularly in the mineral industry, electric vehicles (EV), solid waste management, and green energy.

The menteri besar also noted that the collaboration with SGI also has the potential to complete the supply chain of the automotive industry, particularly in implementing the Automotive Hi-Tech Valley (AHTV) project in Tanjung Malim, Perak, without having to rely on raw materials imported from outside.

“Among the most important components in the automotive industry are permanent magnets that produce magnetic induction motors, hybrid starter generator magnets, integrated electric brakes, electric power steering motors and various other high-tech components,” he said.

Saarani said the cooperation that will be established between the two parties is also seen to provide great benefits to the state, especially in providing job opportunities.

“Imagine how many job opportunities we can create through these new industries. It will certainly be beneficial for the people of Perak, especially the young people,” he said. — Bernama