High-Profile Korean Delegation Visits Indonesia to Foster Economic Growth

An elite economic delegation from South Korea, led by Shin Dong-bin, chairman of Lotte Group, is scheduled to visit Indonesia from April 28-29. This visit is poised to enhance cooperation in pivotal sectors such as energy, infrastructure, and digital industries with Indonesia's Prabowo administration.

Strategic Discussions and Partnerships on the Horizon

The Federation of Korean Industries (FKI) has highlighted the significance of this visit in bolstering the economic relationship between South Korea and Indonesia. The delegation, comprising senior executives from giants like Samsung, SK, and Hyundai Motor, will collaborate with the Indonesian Employers Association (APINDO) to host the "Korea-Indonesia Business Round Table" on April 28.

Lotte Group's Expanding Footprint in Indonesia

Under Chairman Shin's leadership, Lotte Group is making significant strides in Indonesia, with a 5.4 trillion won investment in a petrochemical plant and the operation of 48 Lotte Marts across the country. This visit is expected to further accelerate Lotte's business expansion in Indonesia.

Hyundai and HD Hyundai's Strategic Moves

Hyundai Motor Group is exploring clean hydrogen production, while HD Hyundai is targeting Indonesia's vast mining sector, leveraging the country's position as the world's largest nickel reserve holder.

A Proactive Approach to Economic Diplomacy

Kim Bong-man of the FKI emphasized the proactive efforts to expand private-sector cooperation, marking a significant step in the economic diplomacy between South Korea and Indonesia.