Indonesia and South Korea are committed to continuing to increase comprehensive cooperation, including in the development of the manufacturing industry sector to spur the economies of both countries. "We hope that the potential for economic and industrial cooperation between Indonesia and South Korea can be further increased and strengthened," said Minister of Industry Agus Gumiwang Kartasasmita after meeting with Chairman of the Federation of Korea Industry (FKI) Shin Dong Bin and his delegation in Jakarta. The Minister of Industry said that his meeting with the FKI delegation was expected to have a positive impact on the sustainability of their businesses in Indonesia. "From their information, we know what is needed or what obstacles are in the field," he said.
Furthermore, according to Agus, a number of South Korean companies have made significant contributions to the Indonesian industrial landscape, including the electronics, automotive, green technology, and digital transformation sectors. "At today's meeting, we discussed several industry issues, including the development of the manufacturing industry and local industry, green industry and digital transformation, and the halal industry," said Agus. The FKI delegates are committed to participating in building the economy in Indonesia through their investments. Agus expressed his appreciation for the commitment of South Korean companies that have optimally fulfilled the domestic component level (TKDN), such as Samsung, LG, and Hyundai. "This means that, directly, they have increased the participation of local industries, absorbed labor and contributed to industrial growth in Indonesia," explained Agus. "Specifically for the development of electric-based vehicles, we noted that several Korean companies have enjoyed several incentives through the program production scheme according to TKDN requirements, including 0% Import Duty, 0% PPnBM, and 2% VAT by participating in the LCEV program and the DTP VAT program," explained Agus.
