Korean businesspeople positive about investment opportunities
Korean businesspeople positive about investment opportunities
JAKARTA (JP): A delegation of business executives from South
Korea's largest province of Kyongbuk said they were optimistic
about investment opportunities in Indonesia.
Kyongbuk Governor Eui-Geun Lee, who is leading the trade
mission, said here on Wednesday investment opportunities in the
country had continued to improve since the presidential election
last month.
"We understood the unfortunate situation in Indonesia when a
series of riots broke out sometime ago, but after the
presidential election in October things have been improving with
great speed," Lee said.
Lee hoped the trade mission would lead to increased trade
between the two countries, which in turn would benefit
businesspeople from both nations.
Some 150 Indonesian companies have been invited to talks with
representatives of 15 South Korean companies at the Mulia Hotel
in Central Jakarta from Wednesday to Friday.
The South Korean trade mission arrived in Jakarta on Wednesday
after visiting Thailand and Vietnam. The group will return to
their country on Friday.
Among the South Korean companies taking part in the mission
are Semyung Industry Co. Ltd., which sells rubber auto parts such
as antivibration rubber strips; Hanhyun Precision Tool Co. Ltd.
(metal cutting tools); Mega-Chem Korea Co. (industrial cleaners
and grease removers); and Sum Micro Filter Corp. (filter systems
for oil, petrochemical and polymer metal filters).
Lee met with Jakarta Governor Sutiyoso and Minister of
Industry and Trade Yusuf Kalla on Wednesday to discuss trade and
cultural ties between the two countries.
Lee said it would benefit both Indonesia and South Korea to
increase their cooperation.
Lee said South Korea currently had a trade deficit with
Indonesia. Between January and September of this year, South
Korea's exports to Indonesia stood at US$1.8 billion, while its
imports from Indonesia reached $2.8 billion.
Young-Man Kim, the manager of the Korean Trade Center in
Jakarta, said South Korea exported such items as electronics,
fabrics, chemicals, steel and leather to Indonesia.
He also said among the items South Korea imported from
Indonesia included liquefied natural gas (LNG), oil, pulp, coal,
wood, natural rubber, polyester, latex, textiles and wool
products.
Kim also said LNG made up the largest portion of his country's
imports from Indonesia. From January to September, LNG accounted
for about $900 million, or 32.5 percent, of South Korea's total
imports from Indonesia.
Kyongbuk province is known for its electronics, automotive,
and heavy industries. The province possess a rich cultural
heritage dating back a thousand years. Like the country's
capital, Seoul, Kyongbuk is home to a number of universities, Kim
said. (udi)