Prabowo secures Rp574 trillion investment commitments from Japan and South Korea

Jakarta (ANTARA) - Coordinating Minister for the Economy Airlangga Hartarto stated that President Prabowo Subianto’s visit to Japan and South Korea successfully secured investment commitments of up to Rp574 trillion. During his visit to Japan, Prabowo agreed on investment commitments worth $23.6 billion or approximately Rp401 trillion, while in Seoul, South Korea, concrete agreements were reached through the signing of various memoranda of understanding (MoUs) between business actors with a total value of $10.2 billion or equivalent to Rp173 trillion. “This is a very significant figure because Indonesia, in the current uncertain geopolitical situation, remains attractive to investors from both Japan and Korea. Japan itself ranks third in investments and trade, and Korea ranks seventh,” Airlangga said in his statement in Jakarta on Thursday. He added that in the future, both countries very much hope that with Indonesia having a sovereign wealth fund, Indonesia can also become a co-investor. Airlangga explained that investment cooperation with South Korea covers various sectors, including energy and green transition, solar power development, carbon capture and storage (CCS) technology, and renewable energy. This cooperation also includes the digital economy sector and artificial intelligence (AI) development as part of efforts to strengthen national industrial competitiveness in the digital transformation era. On the other hand, investments with South Korea also cover the property and infrastructure sectors, including the development of the Bumi Serpong Damai area, as well as strengthening business partnerships through cooperation between the Indonesian Chamber of Commerce and Industry (Kadin) and the Korea Chamber of Commerce and Industry. This collaboration is aimed at encouraging the realisation of business commitments, particularly in strengthening the battery supply chain and technology-based manufacturing investments.