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RoK to invest 6 billion USD in Indonesia’s new capital development

Indonesian President Joko Widodo has said that the Republic of Korea has agreed to support the development of the country's new capital (IKN) Nusantara with a total investment of 6.37 billion USD.
Hanoi (VNA) – Indonesian President JokoWidodo has said that the Republic of Korea has agreed to support the developmentof the country's new capital (IKN) Nusantara with a total investment of 6.37billion USD.

President Widodo hailed the RoK’s support in cooperating to develop the newcapital at a joint press conference with host President Yoon Suk-yeol in Seoulon July 28 during his visit to the northeastern country.

“The total investment value reaches 6.37 billion USD and will absorb more than58,000 workers," the Antara news agency quoted President Widodo as saying.

During the visit, the two countries’ leaderswitnessed the signing of a memorandum of understanding (MoU) on investmentcooperation between the Indonesian steel company PT Krakatau Steel, theMinistry of Investment, and the RoK’s POSCO Holdings.

Krakatau Steel and POSCO agreed to invest in the expansion of steel productioncapacity, especially for the production of electric vehicles, and thedevelopment of IKN Nusantara. Investment under the cooperation is estimated toreach 3.5 billion USD.

The RoK government also agreed to build a wastewater treatment plant for IKNNusantara in East Kalimantan province./.
VNA
#Indonesian President Joko Widodo #Nusantara #Yoon Suk-yeol #vietnam news agency #vietnamplus Indonesia
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