Indonesia looks to attract more investment from RoK
Head of the Investment Coordinating Board (ICB) of Indonesia said he and Minister of State-owned Enterprises Erick Thohir made a visit to the Republic of Korea on September 23 and 24 to call for more RoK investment to Indonesia.
Jakarta (VNA) – Head of theInvestment Coordinating Board (ICB) of Indonesia said he and Minister of State-ownedEnterprises Erick Thohir made a visit to the Republic of Korea on September 23and 24 to call for more RoK investment to Indonesia.
Lahadaliasaid on September 28 that RoK investment in Indonesia in the second quarter of2020 surged to 552.6 million USD, noting that this is a positive sign.
ICBstatistics showed RoK investment in Indonesia in the first half of 2020 reached683 million USD, a year-on-year increase of 25 percent.
Since2015, the RoK has been the seventh biggest investor in Indonesia, afterSingapore, Japan, China, Hong Kong (China), Malaysia and the Netherlands.
RoKinvestment in Indonesia during the period from 2016 to early 2020 focused onelectricity, gas and water (944.3 millioin USD), machinery, electronics,medical equipment, electric and optical equipment (902.5 million USD),chemicals and pharmaceuticals (749.6 million USD), leather-footwear (552million USD), and other industries absorbed 528.7 million USD.
Javais the top destination for RoK investors, attracting 4.5 billion USD, followedby Kalimantan with 1 billion USD, and Sumatra with 372.4 million USD./.
Korean Ambassador to Indonesia Kim Chang-beon called on Indonesian Coordinating Minister for Political, Legal and Security Affairs Mahfud MD on November 20 to discuss procurement of main military armament system (Alutsista), among others.
Indonesia and the Republic of Korea on April 6 agreed to hold a signing ceremony of their bilateral free trade deal in the near future to quickly implement it in a way that helps minimise the economic fallout from the new coronavirus pandemic.
Indonesian energy producer, PT Pertamina, and a consortium of companies of the Republic of Korea (RoK) signed a memorandum of understanding (MoU) to explore business cooperation opportunities in Indonesia’ oil and gas industry, specifically in the Refinery Development Master Plan (RDMP) of Dumai in Riau.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
Illustrative image (Photo: Internet) 
