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RoK firms pledge nearly 2 billion USD in new investments in Indonesia

The planned increase is equal to more than 10% of the 15.4 billion USD that Korean firms had already invested in Indonesia, said Airlangga.

Jakarta (VNA) – The Republic of Korea (RoK)’s companies will increase their investment in Indonesia by 1.7 billion USD, Indonesian economic minister Airlangga Hartarto said on April 28 after attending a meeting between a Korean business association and President Prabowo Subianto.

The planned increase is equal to more than 10% of the 15.4 billion USD that Korean firms had already invested in Indonesia, said Airlangga.

Prabowo's office said the President met with more than a dozen Korean companies that have invested in Indonesia, including holding company Lotte Corporation, steel firm POSCO Holdings, glass producer KCC Glass Corporation, and Hyundai Motor Group.

POSCO and KCC Glass were among the firms that planned new investments, Airlangga said, without providing further details.

Airlangga said Lotte Chemical Corp's 3.9 billion USD large-scale petrochemical plant in Indonesia was expected to start operating by September or October this year.

VNA
#Indonesia #Republic of Korea #Prabowo Subianto #Korean companies #Lotte #POSCO #Hyundai Indonesia Korea (RoK)
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