The forum was held as part of a series of meetings under the "Business Forum on 50 Years of Indonesia-South Korea Relations: Developing Closer Friendship and Stronger Partnership through Enhanced Trade & Industry Cooperation."
It was organized in collaboration with the Indonesian embassy (KBRI) in Seoul, the Trade Ministry, and the Ministry of Investment/Investment Coordinating Board (BKPM).
"The Industry Ministry has supported the implementation of EIP in Indonesia with various regulations and laws to encourage an environmentally friendly management system in order to realize the concept of a green industry," Kartasasmita informed in a statement received here on Thursday.
He said the EIP development program has had a major impact on sustainable environmental preservation in the industrial sector.
This is in line with Indonesia's commitment to building a globally competitive manufacturing industry by accelerating the implementation of Industry 4.0.
"There are three pilot projects for the Global Eco-Industrial Park (GEIPP-Indonesia) program, including the MM2100 Industrial Area, Batamindo Industrial Area, and Karawang International Industrial City (KIIC)," he informed.
According to the minister, the Indonesia-South Korea business forum was held to strengthen industrial and trade cooperation, particularly in efforts to promote industrial zones and special economic zones, market access, the export and import of fresh products, the development of upstream and downstream industrial ecosystems, and various other important activities to support national economic development.
Kartasasmita said that the two countries have promising trade and industrial cooperation. Indonesia and South Korea are also offering an attractive investment climate.
South Korea's strong industrial base and technological progress can attract Indonesian investors who are looking for cooperation opportunities, technology transfer, and knowledge-sharing opportunities, he noted.
Meanwhile, South Korean companies can explore investment opportunities in various sectors in Indonesia, including infrastructure development, energy, manufacturing, digital economy, and tourism, he added.
He said that South Korea is an important economic partner for Indonesia. The total trade turnover between the two countries reached US$24.5 billion in 2022, a significant increase of 33.2 percent compared to the previous year.
In addition, South Korea was ranked as Indonesia's 7th largest investor in 2022, with a total investment of US$2.29 billion, up 40.06 percent compared to the previous year.
Kartasasmita outlined several sectors in Indonesia that have attracted investment from South Korea, namely electricity, water and gas, vehicles, footwear and leather, textiles, and mining.
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Translator: Ade Irma J, Resinta S
Editor: Rahmad Nasution
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