He made the announcement after accompanying President Prabowo Subianto to a meeting with representatives from 19 South Korean companies at the Merdeka Palace in Jakarta on Monday.
"Thus far, the 19 companies have invested nearly US$15.4 billion in Indonesia. Moreover, they are planning to inject another US$1.7 billion here," he told the media.
Hartarto highlighted that among the companies is Lotte Chemicals, which is preparing for the inauguration of Indonesia's largest petrochemical factory in September or October this year.
The minister added that President Prabowo has given the green light to the company's plan to partner with state-owned enterprises affiliated with the Danantara Investment Management Agency.
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He also mentioned KB Financial; Hyundai Motor, which has invested in cathode and nickel production in Central Sulawesi; KCC Glass, which has opened a factory in Central Java; LX International; and SK Plasma.
The Indonesian government, he said, greatly appreciates these investment plans, which are expected to help develop a stronger industrial ecosystem and generate new job opportunities.
President Prabowo hosted the executives from the 19 companies as part of a delegation from the Federation of Korean Industries (FKI). The meeting, which began at 11:15 a.m. local time, took place in the Grand Convention Chamber of the Merdeka Palace.
Earlier the same day, the FKI delegation joined the Indonesian Employers Association (Apindo) for the Indonesia-Korea Business Roundtable in Jakarta.
At the event, the two groups agreed to establish the Korea-Indonesia Business Council and signed a memorandum of understanding for boosting cooperation in downstream industries, renewable energy, digital infrastructure, and the digital economy.
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Translator: Andi F, Tegar Nurfitra
Editor: Yuni Arisandy Sinaga
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