S. Korea, RI plan barter deal

S. Korea, RI plan barter deal

SEOUL (Dow Jones): South Korea's Ministry of Commerce, Industry and Energy said it concluded Thursday a two-day meeting with Indonesian government officials on improving trade between the two countries during an annual committee of energy and mineral resources cooperation.

During the two-day meeting, the two sides shared the view that barter trade will be necessary to help foster overall trade between the two countries, which has been falling sharply since the currency crisis hit Asia last year, the ministry said.

Minister of Commerce, Industry and Energy Park Tae-young headed the South Korean delegation to the meeting in Seoul while Minister of Mines and Energy Kuntoro Mangkusubroto led the Indonesian mission.

The two sides discussed including crude oil, mineral resources and gas products in the barter trade, the ministry said. They plan to meet again soon to continue talk on details regarding the barter trade.