Kwangju companies look for partners

JAKARTA (JP): Thirteen industry executives from Kwangju, South Korea, are here looking for Indonesian joint venture partners to develop their markets in the Asia-Pacific region.

Kwangju Mayor Song Eon-Jong, who is leading the executives on the trade mission, told reporters yesterday that many Kwangju entrepreneurs are interested in investing in Indonesia, particularly in the electronics, aluminum, tire and auto parts industries.

The interest is not because of the cheap labor costs in Indonesia, he said, but because this country has grown to be a very important economy in the region.

Furthermore, Indonesia's deregulatory measures, which allow 100 percent foreign ownership in an investment project, have also made the country more attractive to foreign investors, he said.

The executives are here to take part in a five-day industrial fair, scheduled to be opened today. They have visited Sydney in Australia and Auckland in New Zealand and will continue on to Bangkok and Hong Kong after the fair.

Thus far, according to Song, there are 12 Kwangju-based investors now operating in Indonesia, some of whom will be visited by the mayor and his delegation in an effort to learn about business opportunities in Indonesia.

The executives joining the mission represent Sung Woo Co. Ltd, a decorative light bulbs company; Kwangwoo Radiator Ind. Co., a radiator producer; Kasondang Pharmaceutical Co. Ltd, a producer of insecticides; Hanam Electronic Co. Ltd, an aluminum firm; National String MFG., Co. a guitar-string maker; Dasol International, a producer of hoses and cable drapes; Dong Il Textile Co. Ltd; Youngheung Development Industrial Co, a producer of spark plugs, ceramic tiles and industrial ceramics; Taebong Fiber Co., Ltd, a cotton waste and flax producer; and Gwangju Namseon Lathe Corp, a lathe producer. (jsk)