Kwangju companies look for partners

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)