SoftBank Chairman Son Jeong-ui Meets Jokowi to Discuss "Investment in Indonesia's New Capital"

SoftBank Chairman Masayoshi Son and Samsung Electronics Vice Chairman Lee Jae-yong arrived and entered the Korea Furniture Museum in Seongbuk-dong, Seoul on the 4th. On the same day, Samsung Electronics Vice Chairman Lee Jae-yong met with Hyundai Motor Group Executive Vice Chairman Chung Eui-sun, LG Corporation CEO Koo Kwang-mo, NCSoft CEO Kim Taek-jin, and Naver Global Chief Investment Officer (GIO) Lee Hae-jin. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Dongwoo Lee] Masayoshi Son, chairman of SoftBank Group, met with Indonesian President Joko Widodo on the 10th (local time) and expressed his intention to invest in the newly constructed capital city.

After meeting with President Joko Widodo and Maritime and Investment Coordinating Minister Luhut Panjaitan at the Jakarta Presidential Palace, Chairman Son said, "The scale of investment in the new capital has not been decided yet, but we discussed its potential."

He added, "We talked about the new smart city, cutting-edge technology, a clean city, and artificial intelligence (AI). Those are the areas I am interested in," according to Kyodo News and others.

The Indonesian Presidential Palace also announced that President Joko Widodo and Chairman Son discussed the investment potential of the new capital in East Kalimantan on Borneo Island and various development projects.

President Joko Widodo announced last year that he would relocate the capital to East Kalimantan on Borneo Island, citing severe population and economic concentration on Java Island, especially Jakarta's vulnerability to disasters such as floods.

The Indonesian government plans to start construction of the new capital this year and aims to complete the relocation by 2024. The construction cost is estimated to be approximately $33 billion (40 trillion won).

This content was produced with the assistance of AI translation services.