Seoul eyes swap deal with RI

Seoul eyes swap deal with RI

SEOUL (Dow Jones): The South Korean government said yesterday
it is considering a plan to swap its exports to Indonesia for
imports, as many exports and construction fees haven't been paid
for by the trouble-ridden Southeast Asian nation.

If necessary, the Korean government will send a survey team to
start government-level negotiations to exchange its unpaid
exports with the imports of raw materials from Indonesia,
according to the Ministry of Finance and Economy.

The idea was one of several proposals brought up during a
meeting of economic government officials, including Assistant
Finance and Economy Minister Chung Duk-koo, who met Wednesday to
seek measures designed to cope with uncertainties surrounding the
economy of Indonesia.

According to Korean newspaper Chosun Ilbo South Korean
financial institutions lent $5.5 billion to Indonesia's corporate
and financial sectors at the end of January.