KIND

KIND Confirms Development Cooperation Framework in Indonesia with Daewoo E&C and Sinarmas Land

- Follow-up cooperation expected following the Korea–Indonesia Business Forum -

 The Korea Overseas Infrastructure & Urban Development Corporation (KIND), led by President Kim Bok-hwan, has initiated cooperation with Daewoo Engineering & Construction and Indonesia’s Sinarmas Land to support Korean companies’ entry into development projects in Indonesia.

 From left: Airlangga Hartarto, Coordinating Minister for Economic Affairs of Indonesia; Seo Chang-hoon, Head of Urban Development Division at KIND; Han Seung, Head of Overseas Business Division at Daewoo E&C; Ferdinand Sadelie, Vice President of Sinarmas Land; Yeo Han-koo, Minister for Trade Negotiations at Korea’s Ministry of Trade, Industry and Energy.

 KIND announced that on April 1, it signed a confirmation agreement on residential and commercial development projects in Indonesia with Daewoo E&C and Sinarmas Land during the Korea–Indonesia Business Forum held at The Shilla Seoul.

 In particular, the signing took place during the MOU exchange ceremony at the forum, which was held on the occasion of the official visit of Indonesian President Prabowo Subianto to Korea, adding further significance to the event. The forum brought together high-level government officials and business leaders from both countries to discuss ways to expand investment and industrial cooperation.

 Based on this confirmation, KIND plans to continue expanding support for Korean companies entering overseas markets by identifying promising urban development projects in Indonesia.

 A KIND official stated, “This signing is meaningful in that it has further strengthened the foundation for cooperation in urban development projects in Indonesia,” adding, “KIND will continue to actively support Korean companies in advancing into overseas investment and development projects.”