Jokowi Calls on South Korea to Boost Investment in Indonesia

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  • TEMPO.CO, Jakarta - South Korea has picked Indonesia for its first honorary visit in 2017. President Joko “Jokowi” Widodo used the momentum to strengthen economic ties with the country.

    “According to the President, [South Korea’s] investment and trade [with Indonesia] tend to decline. The value remains huge, but the trend is declining,” Foreign Affairs Minister Retno Marsudi said at the Presidential Palace on Thursday, January 12, 2017.

    Based on Tempo’s observation, South Korea sent parliament members as the country's representative; and National Assembly Speaker Mr. Chung Sye Kyun was in communication with President Jokowi.

    According to Retno, Mr. Chung Sye Kyun had convinced President Jokowi that South Korea would continue to strengthen ties with Indonesia in the investment and trade sectors. In addition, she revealed that South Korea is one of Indonesia’s important partners that it would be necessary to maintain a good relationship between the two countries.

    “Indonesia is considered as a big player in ASEAN that provides major contributions in relation to international issues,” Retno explained.

    Mr. Chung Sye Kyun said that South Korea is more than willing to strengthen bilateral ties with Indonesia. Therefore, he believes that the relationship between the two countries will be stronger in the future.

    Last year, the Investment Coordinating Board (BKPM) reported that South Korea had committed an investment worth US$18 billion. The investment commitment was to be allocated to electricity and renewable energy projects, animal feed, film, shoes, and pharmacy industries.