Minister of Industry Ensures South Korean Industry Remains Investment in Indonesia

By : Ridwan And Aldi Firhand. A | Monday, September 10 2018 - 19:35 IWST

Menteri Perindustrian Airlangga Hartarto (Foto: Dok. Kemenperin)
Menteri Perindustrian Airlangga Hartarto (Foto: Dok. Kemenperin)

INDUSTRY.co.id - Seoul, the Indonesian Government continues to attract South Korean investment in the manufacturing industry. This strategic step aims to deepen the structure of the national manufacturing industry to be more competitive in the global arena.

"On the Making Indonesia 4.0 roadmap, one of the priority programs that needs to be implemented is attracting investment," Industry Minister Airlangga Hartarto said after accompanying President Joko Widodo to meet with four leaders of South Korean big companies in Seoul on Monday (09/10/2018) morning .

The four industry players from the Ginseng country are Chairman Cheil Jedang (CJ) Group Lee Jae-hyun, Vice Chairman of Lotte Group Hwang Kag-gyu, CEO of Posco Oh-Joon Kwon, and Vice Chairman of Hyundai Group Chung Ei-sun.

"At the meeting, it was discussed about increasing investment and developing investment," said Airlangga.

The Minister of Industry mentioned, for example CJ Group which already has a shop in Pasuruan and Jombang, East Java.

"They are producers of monosodium glutamate (MSG), lysine, and animal feed. Throughout 2011-2015, the bio-company has invested USD500 million," he said.

Later, the Lotte Group is building a petrochemical plant with an investment of USD 4 billion in Cilegon, Banten. The company will produce naphtha crackers with a total capacity of two million tons per year.

The chemical raw material is needed to produce ethylene, propylene and other derivative products, so that later we will not need to import. The plan is that this project will open 9,000 jobs, "he said.

For Hyundai, they have signed an MoU regarding their investment plans, continued Airlangga. While Posco continues to accelerate the construction of the 10 million ton steel cluster project in Cilegon which is estimated to be reached by 2025.

"So, everyone ensures their commitment to keep investing in Indonesia," he added.

News Comment

Today's Industry

 PT Pupuk Indonesia (Persero) won two awards at the same time at the 2022 IDEAS (Indonesia DEI & ESG Awards) event held in Labuan Bajo, NTT, Friday (5/8/2022).

Selasa, 09 Agustus 2022 - 16:10 WIB

Pupuk Indonesia Wins Two Awards in IDEAS 2022

PT Pupuk Indonesia (Persero) won two awards at the same time at the 2022 IDEAS (Indonesia DEI & ESG Awards) event held in Labuan Bajo, NTT, Friday (5/8/2022). The two awards are the Diversity,…

President Jokowi Tuesday (08/09) talks with several ministers in his administration before departing for West Kalimantan province for a working visit via Halim Perdanakusuma Airport, Jakarta. (Photo by: BPMI of Presidential Secretariat/Laily Rachev)

Selasa, 09 Agustus 2022 - 15:08 WIB

President Jokowi Kicks Start W. Kalimantan Working Visit

President Joko “Jokowi” Widodo and First Lady Ibu Iriana Jokowi Tuesday (08/09) departed for West Kalimantan province for a working visit.

Minister of Finance Sri Mulyani, accompanied by Governor of Bank Indonesia (BI) Perry Warjiyo and Chairperson (KPK) Firli Bahuri, (RAPBN), at the Presidential Palace, Jakarta, Thursday (08/08). (Photo by: PR of Cabinet Secretariat/Rahmat)

Selasa, 09 Agustus 2022 - 14:15 WIB

Sri Mulyani: 2023 Budget Must Stay Flexible in Facing Global Economic Turbulence

The Government has announced it is strengthening the country’s economic resilience through the 2023 State Revenue and Expenditure Budget Draft (RAPBN) amid the ongoing global economic uncertainty.

PT Dharma Polimetal Tbk (“DRMA”)

Selasa, 09 Agustus 2022 - 13:45 WIB

DRMA Books 45%YoY Increase in Net Profit in 1st Half 2022

PT Dharma Polimetal Tbk (“DRMA”), a listed company engaged in automotive component manufacturing business posted a net profit of IDR143.62 billion in the first semester of 2022, up 45 percent…

PT Alkindo Naratama Tbk (“ALDO”)

Senin, 01 Agustus 2022 - 11:18 WIB

ALDO Books 31% YoY Net Profit Increase in 1st Semester 2022

PT Alkindo Naratama Tbk (“ALDO”), a listed company engaged in the integrated paper and chemical business, posted a net profit of IDR39.31 billion in the first half of this year, increase…