TEMPO.CO, Jakarta - South Korean entrepreneurs are seeking to contribute to the development of infrastructure in Indonesia. Previously, investors from Canada entered the toll road business in Indonesia by purchasing shares of the Cipali toll road operator.
The South Koreans' interest is seen at the Korea Institute of Civil Engineering and Building Technology (KICT) exhibition in Jakarta, held as a forum to introduce their country's technology. This was the fourth KICT Construction Technology Fair in Indonesia.
This year, the fair brought along 15 South Korean business entities engaged in construction with various specializations. In addition to exhibitions, the event also hosts 85 business-to-business meeting sessions.
Rapid infrastructure development in Indonesia over the last five years has attracted foreign investors to market their products to Indonesia. From 2020 to 2024, infrastructure investment is estimated to reach Rp6,455 trillion; excluding the budget to relocate the state capital, which amounts to Rp466 trillion.
Asia Material Ltd.'s representative Ryu Yongsun said that Indonesia's infrastructure projects are very promising, prompting the company to market their products to Indonesia. He said his office had already signed memorandums of understanding with Indonesian companies to sell construction equipment products.
"We are manufacturers that produce equipment for the construction of tunnels," Ryu said.