Home > Business > Economy

Lotte chief to head FKI delegation to visit Indonesia on April 28 and 29

Published: 20 Apr. 2025, 17:18 Updated: 20 Apr. 2025, 19:44

Lotte Group Chairman Shin Dong-bin discusses economic cooperation with Uzbekistan Prime Minister Abdulla Aripov in Uzbekistan on June 14, 2024, while accompanying then-President Yoon Suk Yeol on a tour of three Central Asian countries. [YONHAP]

The Federation of Korean Industries (FKI) announced Sunday that it will send a business delegation led by Lotte Group Chairman Shin Dong-bin to Indonesia from April 28 to 29 to strengthen economic ties with the Southeast Asian country’s new administration.

Senior executives from major Korean firms — Samsung Electronics, SK, Lotte, Hyundai Motor, LG, Posco, Hanwha, HD Hyundai and KB Financial Group — will join the delegation. The group plans to meet key Indonesian officials, attend a business roundtable and explore cooperation in strategic sectors such as energy, infrastructure and digital industries.

The delegation will co-host the Korea-Indonesia Business Roundtable on April 28 with the Indonesian Employers Association, through which business leaders and government officials from both countries will discuss ways to expand industrial collaboration and policy support.

The Korean group will also meet with Indonesia’s coordinating minister for economic affairs, as well as the ministers of investment and industry.

The FKI also plans to build a stronger network with the administration of Indonesian President Prabowo Subianto, who took office in October 2024, through the delegation.

Indonesia, home to the world’s fourth-largest population, is rapidly growing its domestic market and holds the largest nickel reserves in the world.

Trade volume between Korea and Indonesia reached $20.5 billion last year, making Indonesia Korea’s 13th-largest trading partner.

“With bilateral engagement yet to fully take off since Indonesia’s new administration launched, we believe it is important for business groups and companies to take the initiative in expanding private-sector cooperation,” said Kim Bong-man, head of FKI’s international division. “We also plan to relay the challenges Korean firms face in Indonesia.”

BY NA SANG-HYEON [[email protected]]