Kadin confident that RI-South Korea cooperation worth Rp173 trillion will boost foreign exchange
Jakarta (ANTARA) - The Indonesian Chamber of Commerce and Industry (Kadin) is confident that the economic cooperation between Indonesia and South Korea (South Korea), valued at US$10.2 billion or Rp173 trillion, can make a significant contribution to increasing the country’s foreign exchange.
Kadin Indonesia 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), which resulted in 17 memoranda of understanding (MoUs).
He assessed that the cooperation established through various agreements has great potential in driving foreign direct investment (FDI) flows 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.
He also highlighted the broad scope of collaboration between the two countries, ranging from the industrial sector to the creative economy. He mentioned the popularity of Korean culture in Indonesia as one concrete example of the closeness of bilateral relations.
The 17 MoUs agreed upon cover various strategic sectors, such as energy, industrial manufacturing, downstreaming, and the digital economy. Several cooperations also involve major companies from both countries, including renewable new energy projects, battery supply chain development, and low-carbon technology.
“Under the leadership of President Prabowo Subianto, Indonesia is promoting inclusive growth, industrial transformation, and stronger global engagement,” he said.
Amid global uncertainties, he hopes that the Indonesia-South Korea partnership will still be able to become a driver of long-term sustainable growth.
“Hopefully, in the midst of this uncertain world at the moment, we are still trying to find bright spots so that in the long term Indonesia remains advanced, its people remain prosperous, and even more prosperous,” said Anindya.
President Prabowo Subianto’s state visit to South Korea has brought significant results in strengthening the economic sector, with the signing of several memoranda of understanding (MoUs) between business actors from both countries valued at US$10.2 billion (approximately Rp173 trillion).
This was conveyed by Coordinating Minister for Economic Affairs Airlangga Hartarto after attending the “Indonesia–Korea Partnership for Resilient Growth” forum in Seoul, South Korea, on Wednesday (1/4).
As per the statement received on Thursday, Airlangga attended representing President Prabowo along with the Minister of Investment/Head of the Investment Coordinating Board and CEO of Danantara Rosan Roeslani.
“In that meeting, MoUs were signed with a value of US$10.2 billion or approximately Rp173 trillion,” said Airlangga to the media in Seoul.