Jokowi in Korea aims at intensifying bilateral economic cooperation

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President Joko Widodo (Jokowi) left for South Korea for a two-day visit (Sept 10-11) to strengthen bilateral economic ties between the two countries, on Sunday.

The presidential airplane Indonesia-1 departed from Halim Perdanakusuma Air Force Base, East Jakarta, at around noon, Sunday.

Members of the presidential entourage include Cabinet Secretary Pramono Anung, and Thomas Lembong, head of the Investment Coordinating Board (BKPM).

The visit of President Jokowi in Korea focuses on holding bilateral talks with his South Korean counterpart, Moon Jae-in, and attend an Indonesia-South Korea Business Forum, as well as one-on-one business meetings with major South Korean businessmen.

Read more about the cooperation between Indonesia and South Korea

During the visit, a number of memoranda of understanding (MoUs) among other things on legislation, immigration, economic cooperation, maritime security cooperation, environmental and forestry cooperation, and human resources development, will be signed.

Indonesian Foreign Affairs Minister Retno LP Marsudi said the visit was aimed at intensifying bilateral economic cooperation amid the current global economic situation.

The president said Indonesia will strengthen cooperation in the economic sector. “Especially the investment in industry, because I think that is the power owned by South Korea,” he said when opening the meeting at the Bogor Palace, Friday, September 7.

South Korea was the fourth largest investor in Indonesia with a total investment of US$2.2 billion last year.

Jokowi met with representatives of four South Korean conglomerates – CJ Group chairman Sohn Kyung-shik, Lotte Group vice chairman Hwang Kag-gyu, Hyundai Motor Company vice chairman Chung Eui-sun and South Korean steelmaker POSCO chief executive Choi Jeong-woo – in separate meetings in Seoul on Monday, the Palace said in a press release.

“In the meetings, they [the businesspeople] expressed appreciation for Indonesia, which has improved the investment climate for foreign investors,” said Foreign Minister Retno LP Marsudi, who accompanied Jokowi in the meetings.

The business leaders also reiterated their commitment to help Indonesia improve its domestic industries and catch up with foreign players.

“Their commitment is to hire more Indonesian manpower and to improve the transfer of technology,” Retno said.

The visit from Jokowi in Korea is also to reciprocate the visit of President Moon Jae-in to Indonesia last year. Besides, the visit will be part of the jubilation to commemorate the 45th anniversary of Indonesia-South Korea diplomatic ties.



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