Halla to expand to RI

Halla to expand to RI

SEOUL (AFP): South Korea's Halla Group said yesterday it had signed outline agreements to build an auto parts factory and a pulp plant in Indonesia.

Halla's honorary chairman Chung In-Yung signed a memorandum of understanding with Indonesia's Bimantara Group in Jakarta Tuesday to build a plant producing auto brakes, steering parts and airconditioners, a company official said .

The two sides planned to start operating the plant by January 1999 after establishing an equal joint venture in the first half of this year, with output supplied to a venture to be established between Bimantara and Hyundai Motor.

On the same day, Chung signed a memorandum of understanding with Indonesia's Surya Dumai Group to build a pulp plant with an annual capacity of 500,000 tons in the Indonesian province of Riau.