JAKARTA (Yosefardi) – Indonesian and South Korean companies sign cooperation agreement on infrastructure, railway, and energy sectors with total value of US$4.14 billion.

During first half of this year, South Korea’s investment in Indonesia totaled US$1.2 billion through 400 projects, the third biggest investor. In 2012, South Korea invested Rp1.24 billion in Indonesia through 379 projects.

On Indonesia-Korea Business Luncheon Forum held in Jakarta Friday (Oct 11), companies of both countries signed agreements for some projects such as;

1. Railway construction project connecting Baai island (Bengkulu) and Muara Enim (South Sumatra) and port project, with total value of US$3 billion. Companies involved on projects are PT Mandala Resources, PT Coalindo Adhi Nusantara, PT True North Bridge Capital, PT Tanah Laut Tbk and PT Hanwa S&C Co Ltd.

2. Tebo power plant (PLTU) project with capacity of 2×200 megawatts in Jambi worth US$600 million, signed by PT Tebo Agung International and Korea South-East Power Co Ltd.

3. Coal-fired power plant project in South Kalimantan worth US$450 million, signed by PT Adaro Power and PT EWP Indonesia.

While the government of Indonesia and South Korea target to sign the comprehensive economic partnership agreement (CEPA) this year.