Illustrative image (Photo: Internet) Jakarta (VNA) – Indonesia and the Republic of Korea (RoK) have enhancing their business ties with investments worth thousands of billions of rupiah that will create thousands of jobs in the Southeast Asian nation.
Indonesian Foreign Minister Retno Marsudi said on September 30 that at least three business deals were reached during a recent working visit to the RoK by State-Owned Enterprises Minister Erick Thohir and Investment Coordinating Board (BKPM) head Bahlil Lahadalia.
Particularly, the RoK’s glass manufacturer KC Glass Co. Ltd. is set to invest 5.1 trillion rupiah (342.9 million USD) in a deal that can help employ up to 1,300 Indonesian workers.
Garment company PT Sejin Fashion Indonesia, a subsidiary of the RoK’s footwear manufacturer Parkland Co., Ltd., plans to relocate its production base from China to Indonesia. With an investment of 1.2 trillion rupiah, it could provide 4,000 new jobs for local workers.
Meanwhile, the RoK’s largest chemical company, LG Chem Ltd., is set to develop an electric car battery plant and bring a "huge amount" of investment into Indonesia.
In the health sector, Indonesia and the RoK are currently working together through pharmaceutical companies Kalbe Farma and Genexine to develop a COVID-19 vaccine.
According to FM Retno, since the beginning of the pandemic, the RoK has been an important partner for Indonesia in providing medical supplies needed to handle COVID-19, including personal protective equipment.
Amid global travel restrictions in place due to the novel coronavirus, the two countries arranged a travel corridor for essential business and official visits (TCA), effective on August 17./.
Indonesian Foreign Minister Retno Marsudi said on September 30 that at least three business deals were reached during a recent working visit to the RoK by State-Owned Enterprises Minister Erick Thohir and Investment Coordinating Board (BKPM) head Bahlil Lahadalia.
Particularly, the RoK’s glass manufacturer KC Glass Co. Ltd. is set to invest 5.1 trillion rupiah (342.9 million USD) in a deal that can help employ up to 1,300 Indonesian workers.
Garment company PT Sejin Fashion Indonesia, a subsidiary of the RoK’s footwear manufacturer Parkland Co., Ltd., plans to relocate its production base from China to Indonesia. With an investment of 1.2 trillion rupiah, it could provide 4,000 new jobs for local workers.
Meanwhile, the RoK’s largest chemical company, LG Chem Ltd., is set to develop an electric car battery plant and bring a "huge amount" of investment into Indonesia.
In the health sector, Indonesia and the RoK are currently working together through pharmaceutical companies Kalbe Farma and Genexine to develop a COVID-19 vaccine.
According to FM Retno, since the beginning of the pandemic, the RoK has been an important partner for Indonesia in providing medical supplies needed to handle COVID-19, including personal protective equipment.
Amid global travel restrictions in place due to the novel coronavirus, the two countries arranged a travel corridor for essential business and official visits (TCA), effective on August 17./.
VNA
