Indonesia-South Korea agree on $50bn ventures
- Published: 16 Oct 2012 at 11.37
- Online news: Asia
Indonesia and South Korea have agreed to cooperate on eight mega-projects worth a total US$50 billion.
According to the Jakarta Globe, Indonesian Coordinating Minister for the Economy Hatta Rajasa reported that at at a two-day meeting in Jeju, South Korea, delegations from Indonesia and the host country had reached an understanding to cooperate on eight major development projects worth US$50 billion.
In the agreement now labeled the Jeju Initiative, the two countries will jointly develop construction projects under the Indonesian Master Plan for the Acceleration and Expansion of Economic Development.
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