The ASEAN-Korea Center and Indonesia Investment Coordinating Board jointly held an investment seminar on Tuesday to spread the knowledge of Indonesia’s food, beverage and agro industries, and open up the flow of Korean investment into the country.

ASEAN-Korea Center secretary-general Kim Young-sun, Indonesian Ambassador John Prasetio, and government officials from North Sumatra, South Sulawesi, Central Sulawesi and East Java regions participated in the event at the Plaza Hotel.

Following presentations by the Indonesia officials and business representatives, one-on-one meetings with potential Korean investors were held. On Wednesday, the Indonesian delegates visited Lotte Chunan Factory and Nonghyup Ansung Logistics Center. 

“Indonesia is a lucrative market with a high growth rate of 6 percent per annum and population of 250 million people,” said Kim in his speech. “The country’s food and beverage industry reached a market value of $82 billion last year, and has great potential for future investment.”

According to the Indonesian Embassy’s Deputy Chief of Mission Cecep Herawan, the administration of Indonesia President Joko Widodo and Vice President Jusuf Kalla has continuously improved the investment climate to spur domestic and foreign investments.

Recently, the government unveiled a series of policy packages to better manage the macroeconomic environment, aiming to boost industrial competitiveness through deregulation, accelerate implementation of strategic projects by cutting red tape, and devolve power to the regional governments for infrastructure projects.

Cumulative Korean investment in Indonesia between 1980 and 2014 was $12.7 billion and is expected to further climb with the launch of ASEAN Economic Community at the year-end, which would create a $2.4 trillion integrated market with 640 million people.

Between 2010 and 2014, Korean investment amounted to $6.8 billion and $800 million in the first half of this year.

In a separate event on Wednesday, the ASEAN-Korea Center organized an educational program to promote understanding of the region’s multifaceted and multilayered cultures to the Korean youths.

The “2015 ASEAN School Tour Program” under the theme “ASEAN and Korea, we are friends” was held at the Bitgoeul Citizen Cultural Center in Gwangju with 600 students from 22 local middle schools participating.

They engaged in interactive and entertaining activities designed to foster understanding of Southeast Asia’s diverse cultures and histories, including a quiz competition, cultural experience games, photography and sampling of food, costumes and musical instruments.

The venue’s main highlight, the “ASEAN Talk Show,” engaged students and diplomats in a live question and answer session, covering topics from bilateral relations to diplomatic careers. Malaysian Ambassador Rohana Ramli, Cambodian Ambassador Suth Dina, along with other envoys from Myanmar and Laos embassies participated in the show.

Since its launch in 2009, the program has drawn over 10,000 elementary, middle and high school students in Korea, helping instill awareness of ASEAN as a close and crucial partner.

Korea’s Ministry of Foreign Affairs, Ministry of Education, Gwangju Provincial Office of Education, Gwangju Cultural Foundation and various municipal and local governments provided support.

By Joel Lee (joel@heraldcorp.com)