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Indonesia deepens ties with Korea

Indonesia hopes South Korea would become its partner in accelerating the pace of industrialisation in the country including the digital economy.

Around 34,000 Indonesian workers are at present recorded working in South Korea, including more than 4,000 who work as boat crew members.

The two countries will sign several memorandums of understanding covering creative industry, peat land restoration, sporting cooperation, anti-corruption fight, maritime and defense.

South Korea became Indonesia’s strategic partner on December 4, 2006, following the signing of the Joint Declaration on Strategic Partnership to Promote Friendship and Cooperation in the 21st Century.

The value of trade between the two countries reached 16.7 billion dollars in 2015 and Indonesia’s exports to South Korea include coal, nickel, copper, tin, pulp, natural rubber, plywood and footwear.

From South Korea, Indonesia imports wireless communication equipment, motor vehicles, computers, iron, ships, petrochemicals, textile and garments.

South Korea’s investment in Indonesia was recorded at 1.21 billion dollars in 2015 to make it the fifth biggest investor in the country with a total of 2,329 projects in infrastructure, manufacturing, information and communication technology and maritime sectors.

The two countries are working toward more cooperation in tourism and better contacts between their citizens.

 
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