KCCI Chairman Calls for Resumption of CEPA Negotiation with Indonesia

Park Yong-man, chairman of the Korea Chamber of Commerce and Industry (KCCI), stressed a need for the resumption of a negotiation over a comprehensive economic partnership agreement (CEPA) at a business forum in Indonesia.

"The traditional cooperation system between the two countries needs to be upgraded to" package cooperation including finance and technology,” Park said in the Korea-Indonesia Business Forum" held in Jakarta, Indonesia on September 9 (local time). 

"The Korean business community is accepting the new Korean government’s strengthening cooperation with the ASEAN as a major foreign policy change," Park said. “Indonesia which is making mature progress is "a good friend of Korea" which Korea will strengthen partnership with. 

"The meaning of cooperation between the two countries is big enough to encompass not only the development of the two countries but also the development of Korea and the ASEAN community and global development at the G20 level," Park continued.

"Many companies in Korea are hoping for a tour of Indonesia, and the largest-ever number of Korean businesspeople attended the forum today due to such anticipation," he added. 

I hope that Korea and Indonesia will resume the stalled negotiation over the CEPA between the two countries with anticipation for an upgrade of the Korea-ASEAN Free Trade Agreement (FTA) and progress in the Regional Comprehensive Economic Partnership (RCEP) between Korea and Indonesia” Park said. 

"Economic cooperation between the two countries is growing day by day but is not enough yet when taking into consideration its potential," said Rosan Roeslani, chairman of the Indonesian Chamber of Commerce and Industry. "We should step up our efforts to expand bilateral trade and investment by promoting cooperation between the two governments and Korean and Indonesian companies.  

At the forum with the largest number of participating businesspeople in the history of bilateral exchanges, Korean President Moon Jae-in attended and encouraged businesspeople from both countries. Also in attendance were those from 100 companies including 21 large companies, 41 small and medium-sized enterprises, 24 public institutions and groups and 70 companies which made a foray into the Indonesian market.

In attendance from the Korean side were 200 representatives of the Korean political and business communities and Korean companies doing business in Indonesia including such as KCCI chairman Park, minister of trade, industry and energy Baek Woon-kyu, minister of foreign affairs Kang Kyung-hwa, senior presidential secretary for economy Hong Jang-pyo, CJ chairman Sohn Kyung-shik, Samsung Electronics vice chairman Yun Boo-keun, Doosan Heavy Industries vice chairman Jung Ji-taek, Hyundai Motor president Jung Jin-haeng and Lotte Chemicals CEO Kim Kyo-hyun. 

From the Indonesian side were about 200 representatives of the Indonesian government and companies including Rosan Roeslani, chairman of the Indonesian Chamber of Commerce and Industry, Airlangga Hartarto, minister of industry, Basuki Hadimulzuno, minister for public works and housing, Thomas Trikasih Lembong, chairman of the Indonesia Investment Coordinating Board (BKPM), Chairul Tanjung, chairman of CT Corp., Franky Widjaja, chairman of Smartfren and Satya Heragandhi, president of PT Jakarta Propertindo. 

Park Yong-man, chairman of the Korea Chamber of Commerce and Industry (KCCI), stressed a need for the resumption of a negotiation over a comprehensive economic partnership agreement (CEPA) at a business forum in Indonesia.

"The traditional cooperation system between the two countries needs to be upgraded to" package cooperation including finance and technology,” Park said in the Korea-Indonesia Business Forum" held in Jakarta, Indonesia on September 9 (local time). 

"The Korean business community is accepting the new Korean government’s strengthening cooperation with the ASEAN as a major foreign policy change," Park said. “Indonesia which is making mature progress is "a good friend of Korea" which Korea will strengthen partnership with. 

"The meaning of cooperation between the two countries is big enough to encompass not only the development of the two countries but also the development of Korea and the ASEAN community and global development at the G20 level," Park continued.

"Many companies in Korea are hoping for a tour of Indonesia, and the largest-ever number of Korean businesspeople attended the forum today due to such anticipation," he added. 

I hope that Korea and Indonesia will resume the stalled negotiation over the CEPA between the two countries with anticipation for an upgrade of the Korea-ASEAN Free Trade Agreement (FTA) and progress in the Regional Comprehensive Economic Partnership (RCEP) between Korea and Indonesia” Park said. 

"Economic cooperation between the two countries is growing day by day but is not enough yet when taking into consideration its potential," said Rosan Roeslani, chairman of the Indonesian Chamber of Commerce and Industry. "We should step up our efforts to expand bilateral trade and investment by promoting cooperation between the two governments and Korean and Indonesian companies.  

At the forum with the largest number of participating businesspeople in the history of bilateral exchanges, Korean President Moon Jae-in attended and encouraged businesspeople from both countries. Also in attendance were those from 100 companies including 21 large companies, 41 small and medium-sized enterprises, 24 public institutions and groups and 70 companies which made a foray into the Indonesian market.

In attendance from the Korean side were 200 representatives of the Korean political and business communities and Korean companies doing business in Indonesia including such as KCCI chairman Park, minister of trade, industry and energy Baek Woon-kyu, minister of foreign affairs Kang Kyung-hwa, senior presidential secretary for economy Hong Jang-pyo, CJ chairman Sohn Kyung-shik, Samsung Electronics vice chairman Yun Boo-keun, Doosan Heavy Industries vice chairman Jung Ji-taek, Hyundai Motor president Jung Jin-haeng and Lotte Chemicals CEO Kim Kyo-hyun. 

From the Indonesian side were about 200 representatives of the Indonesian government and companies including Rosan Roeslani, chairman of the Indonesian Chamber of Commerce and Industry, Airlangga Hartarto, minister of industry, Basuki Hadimulzuno, minister for public works and housing, Thomas Trikasih Lembong, chairman of the Indonesia Investment Coordinating Board (BKPM), Chairul Tanjung, chairman of CT Corp., Franky Widjaja, chairman of Smartfren and Satya Heragandhi, president of PT Jakarta Propertindo.