Daewoo to invest in RI

Daewoo to invest in RI

JAKARTA (JP): South Korea's leading Daewoo Group will send a special delegation to Indonesia to sound out the possibility of establishing joint venture companies here.

The group's president, Kim Woo-Choong, told visiting Indonesian State Minister of Investment Sanyoto Sastrowardoyo in Seoul over the weekend that the possible sectors that Daewoo will work on are automotive and chemical industries as well as infrastructure.

Kim was quoted by Antara on Saturday that his company has been eying Indonesia as the site for its investment expansion.

He assured that Daewoo's presence in Indonesia will smoothen the transfer of its technology.

After the meeting, Kim invited Minister Sanyoto to visit Daewoo's automobile assembling facilities in Inchon, 60 kilometers west of Seoul.

Today, Sanyoto is scheduled to speak before a seminar in Seoul, which is organized by Indonesia's Investment Coordinating Board and the Indonesia-Korea Joint Committee.

Before visiting South Korea, Sanyoto held a series of investment promotion activities in Taiwan. (rid)