Indonesian bank opens branch in Seoul

An Indonesian bank, Bank Negara Indonesia (BNI) 46, opened a branch office in Seoul, South Korea, in Wise Tower, on Monday. It was inaugurated by the Ambassador of Indonesia to South Korea, John A Prasetio and Manager of BNI46 Seoul, Wan Andi Aryati. “The banking industry in South Korea is already shaken, but BNI46 still sees market potential,” Wan Andi said in a statement received by ANTARA here Monday. The BNI46 targets the domestic trade market according to her. “BNI Seoul wants to be a bridge to establish cooperation between Indonesia and South Korea by providing loans and other related banking services,” Wan Andi said.

The BNI46 also provides services for South Korean businessmen who want to invest in Indonesia, she added.
“We are also targeting the Indonesian labor market in South Korea, which now reaches 40 thousand people. We are committed to providing the best service for the Indonesias foreign exchange heroes,” she said.

Meanwhile, Ambassador Prasetio stated that the world economy is still in a state of collapse. The stock market and the value of currency in some countries against the US dollar continues to decline.

“This shows that the global sentiment has not been encouraging. Uniquely, the Indonesian economy is relatively solid in the middle of the uncertainty shocks,” the ambassador said.

Cooperation in trade and investment between Indonesia and South Korea are still positive. The demand for Indonesian products and South Koreas investment in the country are progressive, according to him.

“They respond positively on the economic policies of President Jokowi (Joko Widodo). I believe that the presence of BNI46 in Korea is very important to bridge cooperation between the two countries,” the ambassador said.

Data from the Investment Coordinating Board (BKPM) shows that South Koreas direct investment in the country in the last five years is ranked fourth with a value of more than US$7 billion. Currently, there are 2,700 South Korean companies in Indonesia.