Korean businesspeople positive about investment opportunities<\/p>\n
JAKARTA (JP): A delegation of business executives from South
\nKorea's largest province of Kyongbuk said they were optimistic
\nabout investment opportunities in Indonesia.<\/p>\n
Kyongbuk Governor Eui-Geun Lee, who is leading the trade
\nmission, said here on Wednesday investment opportunities in the
\ncountry had continued to improve since the presidential election
\nlast month.<\/p>\n
"We understood the unfortunate situation in Indonesia when a
\nseries of riots broke out sometime ago, but after the
\npresidential election in October things have been improving with
\ngreat speed," Lee said.<\/p>\n
Lee hoped the trade mission would lead to increased trade
\nbetween the two countries, which in turn would benefit
\nbusinesspeople from both nations.<\/p>\n
Some 150 Indonesian companies have been invited to talks with
\nrepresentatives of 15 South Korean companies at the Mulia Hotel
\nin Central Jakarta from Wednesday to Friday.<\/p>\n
The South Korean trade mission arrived in Jakarta on Wednesday
\nafter visiting Thailand and Vietnam. The group will return to
\ntheir country on Friday.<\/p>\n
Among the South Korean companies taking part in the mission
\nare Semyung Industry Co. Ltd., which sells rubber auto parts such
\nas antivibration rubber strips; Hanhyun Precision Tool Co. Ltd.
\n(metal cutting tools); Mega-Chem Korea Co. (industrial cleaners
\nand grease removers); and Sum Micro Filter Corp. (filter systems
\nfor oil, petrochemical and polymer metal filters).<\/p>\n
Lee met with Jakarta Governor Sutiyoso and Minister of
\nIndustry and Trade Yusuf Kalla on Wednesday to discuss trade and
\ncultural ties between the two countries.<\/p>\n
Lee said it would benefit both Indonesia and South Korea to
\nincrease their cooperation.<\/p>\n
Lee said South Korea currently had a trade deficit with
\nIndonesia. Between January and September of this year, South
\nKorea's exports to Indonesia stood at US$1.8 billion, while its
\nimports from Indonesia reached $2.8 billion.<\/p>\n
Young-Man Kim, the manager of the Korean Trade Center in
\nJakarta, said South Korea exported such items as electronics,
\nfabrics, chemicals, steel and leather to Indonesia.<\/p>\n
He also said among the items South Korea imported from
\nIndonesia included liquefied natural gas (LNG), oil, pulp, coal,
\nwood, natural rubber, polyester, latex, textiles and wool
\nproducts.<\/p>\n
Kim also said LNG made up the largest portion of his country's
\nimports from Indonesia. From January to September, LNG accounted
\nfor about $900 million, or 32.5 percent, of South Korea's total
\nimports from Indonesia.<\/p>\n
Kyongbuk province is known for its electronics, automotive,
\nand heavy industries. The province possess a rich cultural
\nheritage dating back a thousand years. Like the country's
\ncapital, Seoul, Kyongbuk is home to a number of universities, Kim
\nsaid. (udi)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/korean-businesspeople-positive-about-investment-opportunities-1447893297",
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"sponsor_url": "https:\/\/okusiassociates.com"
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