(News Today) - South Korean Ambassador to Indonesia Kim Ho-young said his country’s investors with an interest in development business in Indonesia are particularly interested in hi-tech business.
He said in Jakarta Tuesday that the hi-tech business sector which has attracted the South Korean businessmen included steel,information technology solutions, entertainment, and construction.
"Korea’s biggest steel plant, Posco, for instance, had signed a memorandum of understanding on the construction of a big-scale steel mill in Cirebon with Krakatau Steel last year. The construction of the project may be started this year," he said.
He also said South Korea is the sixth biggest investor operating a total of 1,300 companies.
"Our investment had increased from 63.1 million US dollars in 2004 to 520 million dollars in 2009," he said.
The South Korean companies currently operating in various parts of Indonesia are employing a total of 500 thousand workers.
"Most of them are exporting their products. Their exports accounted for seven percent of Indonesia’s total exports," he added.
Indonesia and South Korea had established relations in 1973. In 2006, they signed a strategic partnership agreement as an important development in the bilateral relations between the two countries.
Bilateral trade between the two countries reached 15.3 billion US dollars in 2009, which included six billion dollars in South Korean exports.
"Indonesia’s trade reached a surplus of 3.3 billion dollars," Kim Ho-young said.
Source : kompas
Sunday, July 11, 2010
South Korea Eyeing Hi-Tech Business in Indonesia
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