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View all search resultsRI, South Korea boost business links despite pandemic
In the health sector, Indonesia and South Korea are working together through pharmaceutical companies Kalbe Farma and Genexine to develop a COVID-19 vaccine.
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ndonesia and South Korea have strengthened their business ties with investments worth trillions of rupiah that will also create thousands of job opportunities in the Southeast Asian country.
A recent visit of State-Owned Enterprises Minister Erick Thohir and Investment Coordinating Board (BKPM) head Bahlil Lahadalia to Seoul resulted in at least three business deals, Foreign Minister Retno LP Marsudi said on Wednesday.
South Korean glass manufacturer KC Glass Co. Ltd. is set to invest Rp 5.1 trillion (US$342.9 million) in a deal that can help employ up to 1,300 Indonesian workers.
Meanwhile, garment company PT Sejin Fashion Indonesia, a subsidiary of South Korean footwear manufacturer Parkland Co., Ltd., plans to relocate its production base from China to Indonesia. With an investment of Rp 1.2 trillion, it could provide 4,000 new jobs for Indonesians.
Sejin plans to relocate its factory from Dalian city in China to Pati regency in Central Java.
The company’s total investment value is estimated at $35 million.
The company is expecting support from the Indonesian government in the form of a survey on non-new capital goods (BMTB) machines to be relocated from factories in China, the establishment of an industrial zone, a permit on bringing in expert foreign workers during the pandemic and eligibility for a tax allowance scheme.
