Korean investors to venture in sea transport business in Indonesia

An investor from South Korea wants to invest US$80 million in shipping business in Indonesia, the Capital Investment Coordinating Board (BKPM) said.

The unnamed investor is especially interested in operating liquefied natural gas (LNG) tankers, BKPM chief Franky Sibarani said.

The Korean investor hoped to operate two LNG tankers in the country, Franky, who visited South Korea recently, said here on Saturday.

The Korean investor also opened the possibility of building terminal for gas storage, he said.

He said the prospective investor plans to visit the county to look for local partner to operate the business.

“We are not only interested in the size of investment but more important is the added value created by the investment,” he said.

The investor also indicated interest in President Joko Widodos vision of developing sea toll, he said.

“The program is seen as positive in contribution to the countrys development in general,” he added.

He said South Korea is one of the countries actively increasing investment in Indonesia.

South Korean investment implemented in 2015 alone reached Rp15.1 trillion in 2,329 projects. From 2010 to 2015, Korean investment in the country totaled Rp79.6 trillion.

“In the past five years, South Korea has continued to rank among five largest investors in the country,” her added.

Korean investment commitments were worth US$4.6 billion in 2015 or an increase of 86 percent from 2014.