South Korean Investment Interest in Indonesia Remains Strong Despite LG Battery Project Cancellation
Investment and Downstream Industries Minister and Head of the Investment Coordinating Board (BKPM), Rosan P Roeslani, has confirmed that South Korean investment interest in Indonesia remains substantial. This follows the cancellation of LG Energy Solution's electric vehicle (EV) battery project in Indonesia.
Rosan noted that up to the first quarter of 2025, South Korean investment realisation in Indonesia reached USD 683.29 million. The country also ranked among the top seven nations channelling the highest investment into Indonesia.
"Growth from South Korea has increased very well," said Rosan during a press conference broadcast in Jakarta on Tuesday (29/4/2025).
"There was indeed news yesterday that LG would not continue its investment in Indonesia, but not all of their programmes have stopped. Of the four that exist, they are already running," he explained.
Rosan revealed that his office plans to visit LG's investment sites in Indonesia in the near future. He stated that LG's investment in Indonesia would increase to USD 1.7 billion from the USD 1.1 billion already realised.
"What was cancelled is not everything — there is one EV battery project whose expansion will proceed shortly. I will visit the factory that is to be built," Rosan explained.
Rosan noted that up to the first quarter of 2025, South Korean investment realisation in Indonesia reached USD 683.29 million. The country also ranked among the top seven nations channelling the highest investment into Indonesia.
"Growth from South Korea has increased very well," said Rosan during a press conference broadcast in Jakarta on Tuesday (29/4/2025).
"There was indeed news yesterday that LG would not continue its investment in Indonesia, but not all of their programmes have stopped. Of the four that exist, they are already running," he explained.
Rosan revealed that his office plans to visit LG's investment sites in Indonesia in the near future. He stated that LG's investment in Indonesia would increase to USD 1.7 billion from the USD 1.1 billion already realised.
"What was cancelled is not everything — there is one EV battery project whose expansion will proceed shortly. I will visit the factory that is to be built," Rosan explained.