President Jokowi, South Korean business delegation discuss investment
Jakarta, The Gulf Observer: President Joko Widodo (Jokowi) met with a delegation of South Korean businesses led by South Korean Agriculture Minister Chung Hwang-keun to discuss trade and investment issues between the two countries.
“The Indonesian Ambassador to South Korea (Gandi Sulistiyanto) and I accompanied President Jokowi to receive the delegation of 16 people. In the talks, the two countries agreed to increase and continue diplomatic relations, which will soon reach 50 years,” Investment Minister and Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalila said here on Monday.
Members of the South Korean delegation included the Foreign Affairs and Unification Committee Chair, three parliament members, the Vice Minister for Trade, and the chairs of nine South Korean conglomerates, including LG Energy Solution, Hyundai, CJ Group, and LS Group.
“Both countries also think that the trade balance must still be improved. The President also asked for access to exports of commodities, especially food such as oranges,” Lahadalila informed.
According to him, the South Korean delegation asked that Indonesia and South Korea not only build political, but also economic relations.
“The Vice Economic Minister said that next year, Indonesia will become the first Southeast Asian country to produce an electric car ecosystem in which batteries are directly (produced) in Indonesia,” he added.
President Jokowi also requested that South Korean businesses actively participate in investing in the new Indonesian capital (IKN) Nusantara.
“We reported to the President that all investments from Korea to Indonesia are well taken care of, including Lotte (in Cilegon), whose progress has reached 60 percent, which previously stalled for six years,” Lahadalila said.
The petrochemical project of PT Lotte Chemical Indonesia (LCI) in Cilegon, Banten, was only resumed after Minister Lahadalila signed an agreement with Lotte Group’s chemical business sector vice chairman and CEO, Kim Gyo-hyun, virtually on January 7, 2022.
