Hyundai Motor Co.'s plant in Indonesia. (Photo: businesskorea.co.kr) Indonesia is the largest economy in the Association of Southeast Asian Nations (ASEAN). RoK businesses have long chosen Indonesia as a partner to diversify economic cooperation and strengthen economic collaboration, supply chain and economic restructuring.
ASEAN has become one of the five largest economies in the world and attracted great attention from businessmen. The bloc also has close connections with the RoK as it is the latter's second-largest trade partner.
Many cooperation projects between RoK enterprises and Indonesian counterparts are underway, such as those to build a new water supply chain and a core mineral supply chain, and promote cooperation in the field of defence industry.
During a visit to Bali to attend the G20 Summit on November 14, RoK President Yoon Suk-yeol had a 90-minute meeting with 11 Korean businessmen who are investing in Indonesia.
At the event, the RoK President was briefed on difficulties faced by Korean enterprises and affirmed that he would strive to create opportunities for them to do successful business in Indonesia.
The two countries agreed to promote cooperation to strengthen supply chain linkages based on complementary industrial structures during the meeting between the RoK President and his Indonesian counterpart. They have signed a total of 10 memoranda of understanding to boost economic partnerships in many sectors including digital economy and infrastructure development.
Regarding the launch of a high-level dialogue in the field of investment, RoK Deputy Prime Minister Choo Kyung-ho said that through the event, the two countries will quickly solve investment-related difficulties facing businesses and support the promotion of bilateral cooperation projects./.
VNA
