Indonesia, South Korea Trade Expected to Reach US$ 30 Billion in 2020

President Jokowi on a joint press conference with South Korean President Moon Jae-in, at Blue House Presidential Palace, Seoul, South Korea, Monday (10/9). (Photo by: Rahmat/Public Relations).

Amidst many uncertainties in the global economic condition, Indonesia and South Korea are able to strengthen relations between the two countries, President Joko “Jokowi” Widodo said.

According to the President, the realization of trade transactions between Indonesia and South Korea in 2017 increased by 20 percent to US$ 17 billion, of which Indonesia had a surplus of US$ 78 million.

“We targeting a trade of US$ 30 billion for 2022,” President Jokowi said at a joint press conference with South Korean President Moon Jae-in at Blue House Presidential Palace, in Seoul, South Korea, Monday (10/9).

The President also acknowledged that he was impressed to see enthusiasm of South Korean businessmen and investors to increase economic cooperation and investment in Indonesia. According to him, this shows a high level of trust from the South Korean business world to Indonesia’s economy.

“I have received a report that in the ‘2018 Indonesia-Korea Business and Investment Forum’, a number of MoUs were signed with investment potential of US$ 6.2 billion,” President Jokowi said.

On that occasion, the President also expressed his gratitude to South Korea for the support of 2018 Asian Games in Jakarta on 18 August to 2 September.

“We appreciated the presence of South Korean Prime Minister at the opening ceremony of the Asian Games,” President Jokowi said, adding that the participation of two K-Pop idol group, iKON and Super Junior at the closing ceremony of the Games enhanced the joy of the Energy of Asia. (DNS/RAH/ES) (GWH/EP/Naster)