JAKARTA, Jul. 31 (Korea Bizwire) – In a significant shift in foreign investment patterns, South Korea has emerged as the third-largest investor in Indonesia for the second quarter of 2024, outpacing both the United States and Japan, according to recent government data. The Indonesian Investment Ministry reported that foreign direct investment (FDI) in the country reached [...]
SEOUL, Jul. 3 (Korea Bizwire) — Trade Minister Cheong In-kyo said Wednesday that South Korea hopes to expand economic ties with Indonesia in areas ranging from electric vehicles (EVs) to clean energy. Cheong made the remark during his visit to Jakarta, where he attended a ceremony marking the production of Hyundai Motor Co.’s electric vehicles [...]
SEJONG, May 22 (Korea Bizwire) — South Korea’s industry ministry said Wednesday it has shared ideas with Indonesia on expanding bilateral cooperation in the development of a stable supply chain for key minerals. Industry Minister Ahn Duk-geun met with Airlangga Hartarto, the coordinating minister for economic affairs of Indonesia, in Seoul to discuss ways to [...]
SEOUL, May 8 (Korea Bizwire) — South Korea’s state procurement agency on Wednesday hinted at accepting Indonesia’s proposal to reduce its cost sharing for the KF-21 fighter jet program under the condition of providing fewer technology transfers, a move that would increase the financial burden on Seoul. The Defense Acquisition Program Administration (DAPA) said Indonesia [...]
SEOUL, May 7 (Korea Bizwire) — South Korea has been deliberating on Indonesia’s proposal to reduce its payment for a joint development project for the KF-21 fighter jet, the state procurement agency said Tuesday, amid an ongoing probe into an alleged technology leak by Indonesian engineers. Indonesia has reportedly suggested paying only 600 billion won [...]
SEOUL, May 7 (Korea Bizwire) – Indonesia, which had agreed to share a portion of the development costs and receive technology transfers for South Korea’s KF-21 fighter jet, has recently proposed paying only about a third of its originally committed share while also accepting a reduced level of technology transfer, according to sources familiar with the [...]
SEOUL, Apr. 26 (Korea Bizwire) - Indonesia’s stunning victory over his native country of South Korea in the Olympic men’s football qualifiers Thursday night in Qatar left head coach Shin Tae-yong with mixed feelings. “I am really pleased and happy. This feels great,” Shin said after Indonesia eliminated South Korea in the quarterfinals of the [...]
SEOUL, Apr. 23 (Korea Bizwire) — A team of South Korean experts will visit Indonesia this week to provide training for conservators in the cultural heritage sector in the Southeast Asian country. The on-site technical training will take place at the conservation office situated in Borobudur, the largest Buddhist temple in the world, located in [...]
SEOUL, Feb. 22 (Korea Bizwire) — The top diplomats of South Korea and Indonesia have agreed to continue to work on the joint development of a fighter jet, a project in delay due to Jakarta’s suspended payment for its share, Seoul’s foreign ministry said Thursday. The discussion took place between Foreign Minister Cho Tae-yul and [...]
SEOUL, Feb. 6 (Korea Bizwire) — South Korean food company Paldo Co. said Tuesday it will export the country’s traditional sweet rice beverage with halal certification to Indonesia as it aims to make a presence in the local halal food market. Paldo’s Birak Shikhye, usually served as dessert, will be available at discount store chains [...]