Indonesia, RoK boost business cooperation

Indonesia and the Republic of Korea (RoK) have enhancing their business ties with investments worth thousands of billions of rupiah that will create thousands of jobs in the Southeast Asian nation.

Thursday, October 01, 2020 21:56

Indonesia, RoK boost business cooperation ảnh 1

Illustrative image (Photo: Internet)

Jakarta (VNA) – Indonesia and the Republic of Korea (RoK) haveenhancing their business ties with investments worth thousands of billions ofrupiah that will create thousands of jobs in the Southeast Asian nation.

Indonesian ForeignMinister Retno Marsudi said on September 30 that at least three business dealswere reached during a recent working visit to the RoK by State-OwnedEnterprises Minister Erick Thohir and Investment Coordinating Board(BKPM) head Bahlil Lahadalia.

Particularly, the RoK’s glass manufacturer KC Glass Co. Ltd. is set to invest 5.1trillion rupiah (342.9 million USD) in a deal that can help employ up to 1,300Indonesian workers.

Garment company PT Sejin Fashion Indonesia, a subsidiary of the RoK’s footwearmanufacturer Parkland Co., Ltd., plans to relocate its production base fromChina to Indonesia. With an investment of 1.2 trillion rupiah, it could provide4,000 new jobs for local workers.

Meanwhile, the RoK’slargest chemical company, LG Chem Ltd., is set to develop an electric carbattery plant and bring a "huge amount" of investment into Indonesia.

In the health sector, Indonesia and the RoK are currently working togetherthrough pharmaceutical companies Kalbe Farma and Genexine to develop a COVID-19vaccine.

According to FM Retno, since the beginning of the pandemic, the RoK has been animportant partner for Indonesia in providing medical supplies needed to handleCOVID-19, including personal protective equipment.

Amid global travelrestrictions in place due to the novel coronavirus, the two countries arrangeda travel corridor for essential business and official visits (TCA), effectiveon August 17./.

VNA

#Indonesian Foreign Minister Retno Marsudi #Vietnamplus #Vietnam News Agency #global travel restrictions #PT Sejin Fashion Indonesia Indonesia Korea (RoK)

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