(Reuters) – Indonesian and South Korean companies agreed to pursue $6.2 billion worth of deals at a bilateral business forum in Seoul attended by Indonesian President Joko Widodo, authorities in Jakarta announced on Tuesday.<\/p>\n
Indonesia\u2019s Investment Coordinating Board (BKPM) said in a statement that 15 memorandums of understanding (MOU) and six investment commitments were signed on Monday, including some announced previously.<\/p>\n
BKPM said South Korean firms Parkland, LS Cable & System Asia Ltd (229640.KS<\/a><\/span>), Sae-A Trading, Taekwang Industrial Co Ltd (003240.KS<\/a><\/span>), World Power Tech and InterVet confirmed investment commitments totalling $446 million.<\/p>\n The MOUs also involved energy deals aimed at easing surging power demand in Indonesia, BKPM said.<\/p>\n Hyundai Engineering & Construction Co Ltd (000720.KS<\/a><\/span>), which has been working on a $470 million hydro-power plant in Indonesia, signed an MOU to promote cooperation with a South Korean power utility and an Indonesian firm, a Hyundai official said separately.<\/p>\n Other MOUs involved Doosan Heavy Industries & Construction Co Ltd (034020.KS<\/a><\/span>), which has said it would build two coal-fired power plants worth $1.68 billion in Indonesia.<\/p>\n Korea Midland Power Co Ltd, POSCO Engineering & Construction Co Ltd and Hyundai Engineering Co Ltd also announced an MOU with Indonesia\u2019s PT Sulindo Putra Timur to build a 50 MW hydro-power plant in Indonesia for $300 million, BKPM said.<\/p>\n Widodo on Monday told reporters he was aiming for bilateral trade between the two countries to reach US$30 billion by 2022.<\/p>\n source:\u00a0https:\/\/www.reuters.com<\/p>\n","protected":false},"excerpt":{"rendered":" (Reuters) – Indonesian and South Korean companies agreed to pursue $6.2 billion worth of deals at a bilateral business forum in Seoul attended by Indonesian President Joko Widodo, authorities in Jakarta announced on Tuesday. Indonesia\u2019s Investment Coordinating Board (BKPM) said in a statement that 15 memorandums of understanding (MOU) and six investment commitments were signed on Monday, including some announced… Read more »<\/a><\/p>\n","protected":false},"author":116,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1777","post","type-post","status-publish","format-standard","hentry","category-article"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/1777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/users\/116"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/comments?post=1777"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/1777\/revisions"}],"predecessor-version":[{"id":1779,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/1777\/revisions\/1779"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/media?parent=1777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/categories?post=1777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/tags?post=1777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}