South Korea Eyes US$24.4 Million Purchase Contract
27 May 2014 07:26 WIB
TEMPO.CO, Jakarta –Three South Korean companies, Yikang Industrial Co. Ltd, Haein Resources Co. Ltd and Asian Trade Company (ATC), are on a trade mission with six Indonesian companies.
The mission—facilitated by the Indonesian Trade Ministry's Directorate General of National Export Development—was kicked off by the contract signing between South Korea's with Indonesia's PT Dinuo Indonesia and PT Bina Karya Prima on May 22 and 24.
"The estimated value of the companies' purchase contracts with six exporters from Indonesia amounts to US$24.4 million," Nus Nuzulia Ishak, director general of National Export Development, said in a press release on Sunday, May 25.
Favorite products in the first stage of this trade mission are palm oil, glycerine, fatty acids, and soap noodles. The annual purchase value of these products reached US$1 million or around Rp 11.6 billion.
The Trade Ministry will provide guidance and support during the course of the mission that will take place from late May to early June this year. Buyers will be provided with flight tickets and accommodation as well as given tours to exports companies in countryside.
The value of non-oil exports from Indonesia to South Korea in 2013 reached US$6.05 billion. South Korea is one of Indonesia's main export markets, which is expected to grow by 3.5 to 4.5 percent to US$6.3 billion.
PINGIT ARIA
