TEMPO.CO, Jakarta - President Joko Widodo or Jokowi will make an official visit to South Korea on September 10-11, to strengthen economic relations. It will be a return visit after South Korean President Moon Jae-in had visited Jakarta in 2017, which will be marking 45 years of diplomatic relations between the two countries.
"In Seoul, President Jokowi will meet his South Korean counterpart Moon Jae-in and attend a business forum with Korean big companies," Foreign Ministry`s East Asia and Pacific Director Edi Yusup informed journalists at a press briefing in Jakarta on Thursday, Sept. 6.
The governments of both nations will sign several memoranda of understanding (MoU) in fields, including legislation, immigration, economy, development of human resources, maritime security, as well as environment and forestry.
Meanwhile, 10 other MoU will be inked during the business forum that will cover automotive, energy, infrastructure, and transportation, with an investment value estimated to reach US$1 billion.
South Korea is Indonesia`s fourth-largest investor, with investment value reaching $2.2 billion in 2017.
Several companies have expressed interest in investing in Indonesia, such as South Korean steel-making company POSCO in cooperation with Indonesian steel manufacturer Krakatau Steel to boost steel production by one ton, Lotte Corporation that plans to build "the biggest petrochemical factory in Southeast Asia" located in Cilegon, West Java, and Hyundai Motor Company that aims to construct a car factory in Indonesia.
"President Jokowi will encourage their investment commitment for realization," Yusup stated.
The president will also engage with dozens of Indonesian and South Korean youths, including some South Korean YouTube content creators, who consistently promote Indonesian culture in their country.
Indonesia and South Korea had agreed to enhance bilateral cooperation to the level of a special strategic partnership during President Moon`s visit to Jakarta last year.
In order to follow up on the increase in partnership, President Jokowi will propose to organize the "Next Generation Leaders Dialogue," an event that brings together Indonesian and South Korean young leaders from business, governmental, and academic sectors to discuss future cooperation between the two countries.