Korean trade minister to visit Indonesia

Korean trade minister to visit Indonesia

The Jakarta Post, Jakarta

South Korean Trade Minister Hwang Doo-Yun is scheduled to visit
Indonesia on Feb. 17 - 19 in an effort to help strengthen
economic cooperation between the two countries, according to a
statement from the South Korean Embassy.

During his three-day visit, Hwang, who will be leading a group
of about 34 members of the Korean Trade and Investment Mission,
will pay a courtesy call on President Megawati Soekarnoputri, and
will meet economic ministers including Coordinating Minister for
the Economy Dorodjatun Kuntjoro-Tjakti and Minister of Trade and
Industry Rini M. Soewandi, the statement said on Wednesday.

The statement added that the Korean trade mission, consisting
of government officials and representatives of around 20
companies from various manufacturing fields, would engage in one-
to-one meetings with local businessmen to seek new business
opportunities.

Meanwhile, a government official said that Megawati was
planning to visit South Korea, North Korea and China in March.

Bilateral trade relations between South Korea and Indonesia
have continued to improve since the 1997 financial crisis. Korea
is Indonesia's fourth largest export destination.

The volume of trade between the two countries reached US$7.22
billion in the first eleven months of 2001.

South Korea's total investments in Indonesia amounted to $10
billion between 1967 and 2000.

There are about 600 Korean companies operating in various
sectors in Indonesia such as textiles, garments, footwear,
sporting goods, timber, electronics, chemical, heavy machinery,
automobiles and steel.