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Indonesian President Meets with S. Korean Entrepreneurs in Seoul
Expanding Partnership
Indonesian President Meets with S. Korean Entrepreneurs in Seoul
  • By Jung Suk-yee
  • September 11, 2018, 11:32
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Indonesian President Joko Widodo (right) meets with Lotte vice chairman Hwang Gak-kyu in Seoul on September 10.

Indonesian President Joko Widodo met with top officials of Lotte and CJ groups during his state visit to South Korea. Lotte Group is doing business in Indonesia via its 11 subsidiaries and the CJ Group has invested US$1.3 billion in the Southeast Asian country, creating 14,000 jobs there.

During his meeting with the Indonesian president on Sept. 10, Lotte vice chairman Hwang Gak-kyu said that Lotte has developed a partnership with Indonesia through its continuous investment and cooperation. “We are planning to expand the partnership to social infrastructure, backbone industries, startup promotion and cultural projects in Indonesia and we hope that the Indonesian government will provide more support for us,” he said.

Lotte entered Indonesia in 2008 by opening Lotte Marts. Approximately 9,000 locals are currently working for its 11 subsidiaries, including Lotte Department Store, Lotte Chemical and Lotte GRS. In addition, Lotte chairman Shin Dong-bin is currently serving as head of the Korea-Indonesia Partnership Council.

The Indonesian president and CJ Group chairman Sohn Kyung-shik, in the meantime, discussed closer cooperation in the fields of culture and manufacturing.

CJ’s total investment in Indonesia amounts to US$1.3 billion. It has rapidly expanded its business in the country to various fields, including feed manufacturing, livestock, bakery, movie theater and freight logistics.

In 2011, CJ Foodville entered the local B2C market with its Tous Les Jours bakery brand. The first CGV movie theater in Indonesia was opened in 2012. CJ CheilJedang is supplying Halal-certified pre-mixed products there.