Yoon Encourages Indonesian Market Entrepreneurs, Promises to Support More Active Business Expansion

On the 50th Anniversary of Korea-Indonesia Diplomatic Relations Next Year, Opportunities Will Be Created for a Summit Meeting If Possible

[Image source=Yonhap News]

[Bali (Indonesia) = Asia Economy Reporter Ki-min Lee] President Yoon Suk-yeol encouraged Korean companies operating in Indonesia on the 14th, saying, "Next year marks the 50th anniversary of diplomatic relations between Korea and Indonesia. If possible, I will create an opportunity to meet with the Indonesian president and use this as a chance to facilitate smoother progress for our companies' businesses."

President Yoon made these remarks during a 90-minute luncheon meeting with Korean companies operating locally in Bali, Indonesia, where he visited to attend the G20 summit, according to the presidential office.

Eleven representatives from Korean companies such as Korindo (lumber and palm oil), Royal Sumatra (defense, hotels, medical devices), Stealion (cybersecurity), and Humanscape (medical platform) attended.

On the government side, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, Minister of Foreign Affairs Park Jin, Minister of Trade, Industry and Energy Lee Chang-yang, and Ambassador Park Tae-sung, the Korean ambassador to Indonesia, were present.

President Yoon said, "Indonesia is the largest economy in ASEAN (Association of Southeast Asian Nations), and I have long known that textile and garment companies entered early on," adding, "It is one of the most important countries, and we pay special attention to this region."

He continued, "Entrepreneurs who pioneered the Indonesian market in sectors such as textiles and garments have led the development of bilateral relations," and expressed gratitude for "the challenging spirit of young entrepreneurs working hard in emerging fields such as ICT (Information and Communication Technology) and healthcare."

The attending businesspeople suggested, "Many support organizations are operating in Indonesia, but rather than dispersed support, it would be better to create an integrated joint center to make government support more efficient."

There was also a proposal to allow overseas Korean companies to receive policy financial support for small and medium-sized enterprises. One businessperson said, "I also attended a cybersecurity event meeting in Korea last July where the president was present," and added, "As a startup company, establishing a local corporation in Indonesia and challenging new businesses is very difficult," requesting that government cooperation channels be made available.

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