The initiative is important for the countries to realize common prosperity through collaboration, South Korean Ambassador Kim Chang-beom stated at a symposium held in the Presidential Special Staff for the Middle East and the Organization of Islamic Cooperation here on Tuesday.
"We are happy to be part of the team, and we look forward to hearing from Indonesia and Saudi Arabia as well to follow up on this cooperation," Kim remarked.
He noted that cooperation in investment can be made bilaterally between Indonesia and Saudi Arabia and multilaterally as well, that involve East Asian countries: South Korea, Japan, and China.
As the largest investors in Indonesia, the three countries enjoy sound economic relations that can attract Saudi Arabian investment.
Indonesia will be able to take a cue from its partnership with South Korea, Japan, and China, especially in increasing Saudi Arabian investment in the country, which in 2017, had only reached US$3.5 million.
South Korean steel producer POSCO Engineering & Construction has sold 34 percent of its shares valued at $1 billion to the Saudi Public Investment Fund.
South Korea has also played a significant role in the Saudi Arabian economy through the development of infrastructure, construction, and energy.
"Hence, we bring along business representatives from South Korea in the construction sector and heavy industry, among others, to observe the investment potential in both Saudi Arabia and Indonesia," Kim added.
Reporting by Yashinta Difa Pramudyani
Editing by Sri Haryati, Andi Abdussalam
Reporter: antara
Editor: Heru Purwanto
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