Korea and Indonesia celebrates 40 years of bilateral ties this year, crowning the year as the 'friendship year'.

A range of events are scheduled to celebrate the 'deep and widening' ties between the two countries, including an ASEAN-Korea Festival, to be launched by the Korea Foundation on May 21, and the 2013 Korea-Indonesia Forum held in Jakarta on Thursday.

'Indonesia has a similar history of industrialization to our own, including the democratization process that comes with it tailor-made,' former South Korea prime minister Kim Suk-soo said during the enhancing the Korea-Indonesia middle power partnership forum.

The strong relationship between the two countries was proven by the fact that between 2007 and 2012 alone Korean investment in Indonesia increased by 370 percent to US$964 million, pundit Lee Sun-jin from Sogun University said.

Meanwhile, bilateral trade increased from US$14.9 billion to $29.6 billion, said Lee who is also former ambassador to Indonesia.

Echoing the upbeat spirit was Foreign Ministry's director general for Asia-Pacific and African affairs, Yuri O. Thamrin, who said that the ties between the two countries were solid, strong and comprehensive, characterized by progresses and important achievements.

'Our bilateral trade target was set at US$50 billion by 2015 and $100 billion by 2020. To attain this target, a Comprehensive Economic Partnership Agreement [CEPA] has been negotiated by both sides,' said Yuri.

He added that Korean investment in Indonesia cumulatively reached $5.3 billion in 2011, involving 3,882 projects, the biggest being the POSCO and PT Krakatau Steel steel mill project in Cilegon worth $6 billion.

However, bilateral ties aren't just pennies and nickels.

Lack of understanding between people of the two countries are seen as a challenge; speakers agreed that promoting cultural exchange was integral.

Indonesia's Regional Representatives Council chairman Irman Gusman, pointed out: 'K-Pop culture is permeating Indonesian society. We're crazy for Gangnam [dance] style. But not many Koreans know enough about Indonesia.' Some 35,000 South Koreans live in Indonesia at present.

Separately, Tourism and Creative Economy Minister Mari Elka Pangestu hoped the forum would provide answers to how to deepen, strengthen and broaden bilateral relations.

'We have ASEAN-South Korea FTA, we have ongoing negotiations on the bilateral Indonesia-Korea Comprehensive Economic Partnership and also Regional Comprehensive Economic Partnership of East Asia.

'You have a lot of other regional partnerships going on, whether it's the [US-led] Trans Pacific Partnership, US-EU transatlantic partnership. What is the Asian model?' she added.

Indonesia and Korea established diplomatic ties on Sept. 17, 1973. (asw)

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