Indonesia: South Korea and Indonesia have recently signed five memorandums of understanding (MOUs) that are worth a total of US$1.9 billion.
Covering both public transportation and infrastructure, the signing was attended by South Korean Minister of Land, Infrastructure and Transport Kim Hyun-mi, Indonesian Minister of Transportation Budi Karya Sumadi and Indonesian Minister of Public Works and Public Housing Basuki Hadimuljono.
Korea Rail Network Authority is to be in charge of the second phase of Indonesia’s light rail transit project for reducing traffic congestion in the capital of Jakarta. In addition, the two countries plan to launch a water supply project in Karian, while cooperating for similar future projects and the completion of the hydroelectric power generation project in Bongka.
Furthermore, Hanwha Engineering & Construction is slated to participate in Indonesia’s public housing projects worth US$230 million. Regarding the first phase of the new city development project in Lido, POSCO Engineering & Construction and Indonesian MNC Group will be cooperating with each other.