South Korea, Indonesia Seek to Boost Investment Cooperation for Korean Firms
SEOUL : Trade officials from South Korea and Indonesia met Friday in Seoul to explore ways to strengthen economic cooperation and create a more favorable environment for private investment, South Korea’s Ministry of Trade, Industry and Resources said.
Vice Trade Minister Park Jung-sung met with his Indonesian counterpart, Ali Murtopo Simbolon, to discuss challenges faced by Korean companies operating in Indonesia and ways to expand bilateral economic collaboration.
During the meeting, Park urged the Indonesian government to address issues arising from revisions to Indonesia’s national standard for products and services, the Standard National Indonesia (SNI), which have complicated certification processes for Korean exporters and investors. Seoul has previously raised concerns about delays in obtaining SNI certification, which have affected Korean businesses.
Park also called for swift progress on issues linked to the two countries’ cooperation on Indonesia’s hydropower projects.
The two sides acknowledged the significant contributions of Korean companies to Indonesia’s economy and emphasized the need to foster a more supportive investment environment. To advance these goals, both parties agreed to work toward resuming meetings of the bilateral economic cooperation committee.
