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.