Changwon industries seek investment opportunities
Changwon industries seek investment opportunities
JAKARTA (JP): A trade mission from South Korea's industrial
city of Changwon has arrived here for a three-day visit to
explore investment opportunities.
Changwon mayor Kong Min Bae, who was leading the mission, said
yesterday he brought along executives from 12 middle-scale
manufacturing companies in Changwon.
The 12 companies represent different manufacturing industries,
such as car parts, heavy equipment parts, water pumps,
ventilation fans, water purifiers, paper machine equipment,
construction equipment, golf shoes, universal joints, cooling
fans, clutches, ceramic resistor cards, factory automation plants
and others.
"They are exploring business opportunities, not only for
themselves, but also for other companies in Changwon that cannot
take part in the mission," said Kong, who claimed that the
Changwon city administration had prepared for the mission for a
year.
According to Kong, each of the 12 companies had prepared to
invest up to US$100 million in a joint venture or wholly-owned
enterprise in Indonesia.
Changwon, located in the southeastern part of Korea, has a
large industrial area with 562 industrial companies. It has a
population of 500,000, including 200,000 factory workers and
their families.
Mining and manufacturing companies represent the largest
percentage of the city's industrial companies, but the city's
largest exports are machinery and electrical products.
The city's exports reached $3.4 billion last year, while its
imports stood at $3.7 billion.
Kong said Changwon companies found Indonesia very attractive
for investment due to its vast natural resources, large potential
market and investment climate.
Indonesia remained attractive to Changwon companies despite
the current monetary crisis, which they said was only temporary
in nature and would not affect the country's economic strength,
Kong said.
The business delegation will stay here until Thursday and will
continue their trip to Malaysia, Taiwan and Vietnam, also for
investment opportunities. (jsk)