April 30, 2025 | 05:18 pm
TEMPO.CO, Jakarta - Industry Minister Agus Gumiwang Kartasasmita revealed that a South Korean company has submitted an investment proposal to Daya Anagata Nusantara (Danantara) to develop its business in Indonesia.
The company Agus is referring to is EcoPro. "One of the South Korean companies is interested in submitting an investment proposal to Danantara," he said in a written statement quoted on Wednesday, April 30, 2025.
Agus mentioned that the proposal submitted by EcoPro is related to downstream processing, especially for nickel processing. "This is related to downstream processing, specifically nickel downstream processing, to be continued to become cathodes. They want to invite Danantara for this investment," said Agus. However, he did not explain further details about the proposal.
On Tuesday, April 29, 2025, the Minister met with several South Korean businessmen to discuss their investments in Indonesia. One of them was a high-ranking official from EcoPro.
Previously, Coordinating Minister for the Economy Airlangga Hartarto mentioned that 19 South Korean companies have invested in Indonesia, amounting to US$15.4 billion or around Rp269 trillion, including EcoPro. He said these companies will increase their investment by US$1.7 billion or Rp30 trillion.
"The companies include Lotte Chemicals, which will be inaugurated in September-October, and this is one of the large petrochemical plant programs," said Airlangga in a press conference at the State Palace, Jakarta, on Monday, April 28, 2025, which was broadcast online.
In this investment, Airlangga stated that Lotte Chemicals offers Indonesia's participation. He mentioned that President Prabowo Subianto has approved Indonesia's participation in this investment. Prabowo is said to have assigned the investment management institution Danantara to review and follow up on the investment plan.
Furthermore, KB Financial reported that it had been profitable since acquiring the Bank Koperasi Indonesia (Bukopin) four years ago. Then, there's a representative from Hyundai Motor, which has been operating relatively well, and Posco Holdings, which stated that Pohang Steel will collaborate with Krakau Steel. Both iron and steel companies have a roadmap for up to 10 million tons.
Next, EcoPro has invested nearly US$500 million in Morowali. Airlangga stated that they produce precursor cathodes and nickel smelters. Companies such as KCC Glass, LX International, Poongsan Corporation, and SK Plasma are also involved.
Han Revanda contributed to the writing of this article.
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