Malaysia and South Korea today signed a memorandum of understanding (MOU) to forge bilateral cooperation in the area of information and communication technology (ICT).

The Communications and Multimedia Ministry in a statement here said the signing of the MoU at the Blue House, the executive office and official residence of the South Korean President in Seoul, was witnessed by Malaysian Prime Minister Dr Mahathir Mohamad and South Korean President Moon Jae-In.

Communications and Multimedia Minister Gobind Singh Deo signed on behalf of the Malaysian government while South Korean Science and ICT Minister Choi Kiyoung signed for the South Korean government.

The statement said the MOU was a mutual cooperation to fulfil their duties and functions in the perspective of information exchange and sharing of ICT initiatives.

"The MOU will benefit both countries in the long run and further enhance investment and provide greater opportunities for high-tech exchange between Malaysia and South Korea," it said.

Looking at the rapid growth of the ICT industry in South Korea, the ministry said the sharing of knowledge and expertise especially in the field of ICT would add value to Malaysia.

"The MoU will also open important prospects for entrepreneurs and telecommunications technology players in both countries to continue to innovate and develop technology," it said.

The MOU will focus on various areas, including big data, artificial intelligence and Internet of Things (IOT), software and digital content development as well as telecommunications networks including 4G and 5G, e-commerce, digital broadcasting and cybersecurity, it added.

- Bernama