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South Korea vows to invest $10 bn in Indonesia

15
Jul '10
South Korea is all set to put in around US $6 to 10 billion in Indonesia during the current year. Gita Wirjawan, Head of the Investment Coordinating Board (BKPM) while speaking at Jakarta said that, she recently paid a visit to Korea and they have vowed on the same.

She further stated that, four companies from Korea have expressed their interest to invest in Indonesia. These four companies include Pohang Steel and Iron Corporation (Posco), Hankook Tire Co. Ltd, an electronic company as also a textile company.

For the electronic company, she said, around $1 billion will be required in the form of investment. Indonesia has been short listed with other two to three nations and it is expected that these nations will crore of products for the South East Asian regions.

Also, the textile company would bring in investment worth $300 million whereas; the investment to be brought in by Hankook has yet not been made public.

Fibre2Fashion News Desk - India


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