He discussed the projects with South Korean First Vice Minister of Trade, Industry, and Energy Jang Young-jin at the Maekyung Indonesia Forum held to mark the 50th anniversary of diplomatic relations between Korea and Indonesia here on Tuesday.
Pandjaitan also suggested the establishment of a special task force to expedite the realization of the development plan to the South Korean minister.
Furthermore, he asked that the project plans be worked out during the visit of South Korean President Yoon Suk Yeol to Indonesia, which is scheduled to take place in September 2023.
"I highly hope (South) Korea is interested in investing in Natuna. There are 800 islands (in Natuna Islands), thus the region has potential for building an integrated business area for seaweed cultivation, fisheries, as well as the development of resorts for the elderly,” he highlighted.
The Indonesian coordinating minister said that he expects the development plans to be realized as soon as possible.
"Since Indonesia is rich in maritime resources, we really hope (South) Korea can open their markets for our fishery products," he added.
He said that the seaweed industry has great potential as it could become a substitute for palm oil and a raw material for plastic.
In addition, the forum on Tuesday also discussed bilateral cooperation in banking, insurance, and financial sectors as well as electric vehicle and lithium battery ecosystems.
Pandjaitan expressed the hope that South Korean enterprises would also increase their investment in the production of supporting components for electric vehicles and lithium batteries, such as precursors and cathodes.
"Hence, we will be able to export vehicles manufactured in Indonesia to Southeast Asian countries, Australia, Africa, and other right-hand drive (RHD) countries in the world," he said.
Tuesday’s meeting also discussed investment potential in the health and biotechnology sectors, including for expert training, new medicine development, and essential medicine production.
The inauguration of an aesthetic and wellness center at Ngoerah Hospital in Denpasar City, Bali Province, which is being developed in collaboration with South Korean health service provider Sun Medical Center was also discussed at the meeting.
There will be a follow-up meeting in the next two months to discuss these cooperation potentials.
Related news: Minister highlights South Korea's strategic projects in Indonesia
Related news: Indonesia invites South Korea to invest in North Kalimantan projects