Shin Dongbin, Chairman of Lotte Group, to Lead the Delegation
The Korea Economic Association will send a private economic delegation to Indonesia for the first time since the launch of the new Indonesian government.
On April 20, the Korea Economic Association announced that it will dispatch an economic delegation to Indonesia for two days from April 28 to 29. This delegation will be led by Shin Dongbin, Chairman of Lotte Group, and will include senior executives from major companies such as Samsung Electronics, SK, Hyundai Motor, LG, Lotte, POSCO, Hanwha, HD Hyundai, and KB Financial Group.
The association plans to establish a network with the new Indonesian government under President Prabowo, which was inaugurated in October last year, and discuss ways to expand economic cooperation and mutual investment between the two countries. In particular, the delegation aims to identify practical cooperation opportunities in strategic sectors such as energy, infrastructure, and digital industries, which are considered next-generation growth engines.
On April 28, the delegation will first co-host the 'Korea-Indonesia Business Round Table' with the Indonesian Employers Association (APINDO). Key business leaders and government officials from both countries are expected to attend and focus on discussing cooperation in major industrial sectors and policy support measures. The delegation also plans to meet with ministers and key officials from Indonesia's Coordinating Ministry for Economic Affairs, Ministry of Investment, and Ministry of Industry.
Indonesia is the world's fourth most populous country, has a rapidly growing domestic market based on its expanding middle class, and possesses the world's largest nickel reserves, giving it a competitive edge in resources. Last year, trade volume between Korea and Indonesia reached $20.5 billion, making Indonesia a key partner for Korean companies in the ASEAN region. As of last year, the Indonesian economy grew by 5.03%, achieving growth above 5% for three consecutive years.
Kim Bongman, Head of the International Division at the Korea Economic Association, stated, "Since exchanges between the two countries have not yet fully resumed following the launch of Indonesia's new government, our goal is for economic organizations and companies to join forces and proactively expand private-sector cooperation." He added, "We also plan to actively communicate the difficulties faced by Korean companies operating in Indonesia."
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