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Korea-Indonesia Business Council set up to facilitate win-win cooperation

Korean investments in Indonesia totalled 15.4 billion USD as of late 2023, proving that Indonesia is not only a destination for investment, but also a strategic partner in long-term, sustainable growth.

The signing of a MoU on strategic partnerships across various sectors between the Indonesian Employers Association (Apindo) and the Federation of Korean Industries (FKI) in Jakarta on April 28 (Photo: ANTARA)
The signing of a MoU on strategic partnerships across various sectors between the Indonesian Employers Association (Apindo) and the Federation of Korean Industries (FKI) in Jakarta on April 28 (Photo: ANTARA)

Jakarta (VNA) - The Indonesian Employers Association (Apindo) and the Federation of Korean Industries (FKI) have recently agreed to establish the Korea-Indonesia Business Council to facilitate and intensify mutually beneficial economic cooperation between the two nations.

Apindo Chairperson Shinta Kamdani said at the Korea-Indonesia Business Roundtable in Jakarta on April 28 that this council will help bring together business giants, associations, and investment champions from Indonesia and the Republic of Korea.

She noted that Korean investments in Indonesia totalled 15.4 billion USD as of late 2023.

This figure proves that Indonesia is not only a destination for investment, but also a strategic partner in long-term, sustainable growth, she remarked.

In response to this favourable trend, Apindo and FKI signed a memorandum of understanding, which is expected to drive their nations to enhanced cooperation in downstream industries, renewable energy, digital infrastructure, and the digital economy.

Shinta Kamdani explained that this agreement also reflects the two countries' shared commitments to collaborating in achieving common economic interests across various key sectors.

She also emphasised Apindo's goal to strengthen Indonesia-Korea business relations by involving the Indonesian Investment Management Agency (Danantara) in building strategic partnerships in downstream and green energy projects./.

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