Mon, 07 May 2007
From: Government of Indonesia
By Strategic Alliance with S. Korea
South Korea has demonstrated its commitment to an Indonesian-Korean strategic alliance, says Trade Minister Mari Pangestu.

"They are not looking for incentives or special treatment. All they are looking for is clarity, information and certainty," Pangestu said Tuesday (1/5/07) after concluding the first joint meeting between delegations from the two countries.

Pangestu said the strategic alliance differs from other bilateral cooperative ventures as it envisages concrete action, projects and programs without spending too much time debating policies, frameworks and other peripheral issues.

Korean Commerce, Industry and Energy Minister Kim Young Joo said that among the concrete actions that would be taken will be the signing of five memorandums of understanding (MoUs) between firms from the two countries.

The MoUs cover a project worth $1 billion for the construction of a railway and a port for the transportation and shipment of coal in East Kalimantan by two consortiums from the two countries; a joint investment for the production of infusions involving PT Indentrust Pharmatech and Partners Investment; a joint study on oil and gas exploration involving PT Pertamina, KNOC and SK Corp; cooperation for the development of a coal mine involving PT Tambang Batu Bara Bukit Asam and the Korea Resources Corp; and a direct coal liquefaction project involving PT Nuansa Cipta Coal Investment, Posco E&C and Kenertec Co.

Among the other topics discussed during the joint meeting were further collaboration with a view to identifying the locations for power, gas, and coal exploration and mining projects, establishing the Korean Investment and Trade (Kotra) Business Support Center, identifying priority infrastructure sectors, establishing the ICT Human Resources Center in Jakarta and paving the way for cooperation in building submarines and engines for armored vehicles.

"Other concrete actions concern the forestry field, where 500,000 hectares of land have been allocated for Korean investments in forestry plantation," Pangestu was quoted as saying by The Jakarta Post. "On top of the 500,000 hectares, another 150,000 hectares of land will be available, with an estimated investment potential of $116 million."

She said that the Koreans are primarily interested in the infrastructure and energy sectors.

Meanwhile, South Korea's Saman Corp said it will build a $1 billion dry port terminal with a railway track in Indonesia. Company representative in Indonesia Kim Hyo Tae said the dry port, to serve as a container terminal, will be built in the Jababeka industrial estate in Bekasi tand will be linked to Jakarta's Tanjung Priok port with a railway, which will also be built by Saman Corp, Antara reported.



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