Preparing Large Funds, Hyundai Immediately Builds a Plant in Indonesia

INDUSTRY.co.id - Tangerang, a South Korean automotive manufacturer (South Korea) Hyundai, is intending to overtake investment in Indonesia with a significant amount.

This was conveyed by the Director General of the Metal Industry, Machinery, Transport Equipment and Electronics (ILMATE) Ministry of Industry Harjanto after the FGD between the Indonesian Chamber of Commerce and the Korea International Trade Association (KITA), in GIIAS, Tangerang (6/8/2018).

However, Harjanto did not want to reveal much about the talk about Hyundai's investment in Indonesia.

"We are studying, and hope that later during the visit of the President there will be an overview of the investment. The plan is indeed quite large, but they asked for confidential first, they ask for it like that, "said Harjanto.

A little bit of Hyundai's request to invest in the country, Harjanto leaked a little, the South Korean brand had already begun to study and had some hope in the government.

"The point is that we have given the wishlist to us, only a few of their requests that we see, most of them say they have been accommodated, but there are indeed some issues that were thrown at us," he said.

"Like land, we will facilitate the most suitable land for the industry. But they expect it to be free, it's difficult for us, but if we find a very competitive place for the land, we can provide it, we can provide it, "said Harjanto.

While the Chairman of the Standing Committee of the Indonesian Chamber of Commerce and Industry (KADIN) for South Korea, Jongkie D Sugiarto, also said that Hyundai requested recommendations for land. However, it does not speak far about when and the amount of investment.

"Yes, we help too, find land and provide information. They will determine later. Then the data about the market, "said Jongkie.

Previously, Hyundai had announced plans to build a factory in Indonesia in 2010. At that time, the investment value that would be planted by Hyundai reached US $ 60 million. However, until now, this has not yet been realized.

Currently, Hyundai's business in Indonesia is being worked on by PT Hyundai Mobil Indonesia (HMI) as the brand holder agent (APM). HMI has an assembly plant in Bekasi, West Java, which was built by itself, without injection of funds from the principal.