KADIN Confident RI-South Korea Cooperation Will Boost Foreign Exchange - BCA Sekuritas

The Indonesian Chamber of Commerce and Industry (KADIN) is confident that the economic cooperation between Indonesia and South Korea, valued at US$10.2 billion or Rp173 trillion, will provide a significant contribution to increasing the country’s foreign exchange. KADIN General Chairman Anindya Bakrie, in a statement received in Jakarta on Thursday, emphasised that South Korea is a strategic partner for Indonesia, with economic relations that have continued to develop in recent years. The agreement was reached at the Indonesia-Korea Business Forum held at the Shilla Hotel in Seoul, South Korea, on Wednesday (1/4), resulting in 17 memoranda of understanding (MoUs). He assessed that the cooperation established through these various agreements has great potential to drive inflows of foreign direct investment (FDI) while strengthening the national foreign exchange reserves. “And this is a potential to increase foreign direct investment, create jobs, and of course increase trade that can bring in foreign exchange,” said Anindya.