Jung Wonjoo, Chairman of Daewoo Engineering & Construction, met with President Prabowo Subianto at the Presidential Palace in Jakarta, Indonesia, on May 21 (local time) to discuss cooperation measures, including local business initiatives, according to the company.
Chairman Jung stated, "Since Daewoo Engineering & Construction first entered Indonesia in 1986, we have maintained ongoing cooperative relationships through various projects. Going forward, we hope to participate in a wide range of sectors in Indonesia, including real estate development, infrastructure construction, power generation, renewable energy, and petrochemical plants."
President Prabowo reportedly welcomed Daewoo Engineering & Construction's plans to expand its local business. He said, "I highly value Daewoo Engineering & Construction's capabilities in real estate and infrastructure development, and I hope that the company will identify and develop projects that can make a tangible contribution to Indonesia's economic development."
The meeting was also attended by President Prabowo's younger brother, Hashim Djojohadikusumo, who serves as Special Envoy for Energy and Environment; Maruarar Sirait, Minister of Public Housing; and Rosan Roeslani, CEO of the Indonesian sovereign wealth fund Danantara and Minister of Investment. The company explained that the president personally arranged this impromptu meeting with high-ranking government officials, thereby establishing a practical framework for cooperation.
Jung Wonjoo, Chairman of Daewoo Engineering & Construction. Provided by Daewoo Engineering & Construction
Over the past 40 years, Daewoo Engineering & Construction has participated in seven projects in Indonesia, with a cumulative order value of approximately $700 million. The company has established a local subsidiary to pursue real estate development and infrastructure projects. The company stated, "We will seek to expand our presence in Indonesia by forming strategic and mutually cooperative partnerships with local developers and contractors."
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