INDONESIA WELCOMES RELOCATION OF SOKOR FIRM FROM CHINA TO JAVA
A South Korean company is set to relocate its plant from China to Central Java's Pati district, and is expected to bring in a total investment of $35 million, the Indonesian Antaranews agency reported.
The chief of the investment coordinating board (BKPM), Bahlil Lahadalia, and State-Owned Enterprises Minister, Erick Thohir, received confirmation of the planned relocation while visiting South Korea on September 23-24 this year to follow up on the company's plan to invest in Indonesia.
“This is good news. As per the president's directives, we should actively approach companies wishing to relocate their plants from China and several other countries,” Lahadalia said. "We hope it can help the (national) economy during the (COVID-19) pandemic."
South Korean company PT Sejin Fashion Indonesia will engage in the garment industry and export all of its products. The company is expected to generate up to 4,000 jobs in Indonesia. Sejin is a subsidiary of Parkland Co. Ltd., which has been engaged in the footwear industry in Indonesia for 15 years.
The Financial District would like to learn more from its audience. Can you please give us feedback on this article you just read. Click Here to participate in our online survey.