ID :
172058
Thu, 03/31/2011 - 05:39
Auther :
Shortlink :
https://oananews.org//node/172058
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S. Korea to boost economic ties with Indonesia
SEOUL, March 31 (Yonhap) -- South Korea plans to speed up efforts to strengthen economic ties with Indonesia in an effort to become the world's seventh-largest economy by 2050, the government said Thursday.
The Ministry of Knowledge Economy said it is in the progress of forming a task force led by a minister-level official so Seoul can participate fully in the Indonesia Economic Development Corridors (IEDC) plan.
The IEDC is Jakarta's master plan to pursue growth in such areas as manufacturing, energy and agriculture so the country can transform itself into a economic powerhouse in the next 40 years. Indonesia has asked South Korea to participate in the projects as a full-fledged partner.
The ministry said the civilian-government task force will be staffed by officials who will plot a course to expand economic ties in trade investment, industrial cooperation, construction, infrastructure building, energy and natural resources development sectors. It will also seek tie-ups in the defense industry and work to share economic development know-how.
"A working group from the task force will be dispatched to Indonesia as early as next month to fine-tune details on how to expand cooperation with a ministerial meeting to be scheduled for June," a official said.
He said Indonesia is important because it is a key supplier of crude oil, natural gas, coal and forestry resources for South Korea.
Related to Seoul's efforts to enhance ties with the Southeast Asian nation, local companies such as POSCO and Hankook Tire have recently announced plans to invest US$12 billion in projects in Indonesia.
The Ministry of Knowledge Economy said it is in the progress of forming a task force led by a minister-level official so Seoul can participate fully in the Indonesia Economic Development Corridors (IEDC) plan.
The IEDC is Jakarta's master plan to pursue growth in such areas as manufacturing, energy and agriculture so the country can transform itself into a economic powerhouse in the next 40 years. Indonesia has asked South Korea to participate in the projects as a full-fledged partner.
The ministry said the civilian-government task force will be staffed by officials who will plot a course to expand economic ties in trade investment, industrial cooperation, construction, infrastructure building, energy and natural resources development sectors. It will also seek tie-ups in the defense industry and work to share economic development know-how.
"A working group from the task force will be dispatched to Indonesia as early as next month to fine-tune details on how to expand cooperation with a ministerial meeting to be scheduled for June," a official said.
He said Indonesia is important because it is a key supplier of crude oil, natural gas, coal and forestry resources for South Korea.
Related to Seoul's efforts to enhance ties with the Southeast Asian nation, local companies such as POSCO and Hankook Tire have recently announced plans to invest US$12 billion in projects in Indonesia.
