Korea Overseas Infrastructure & Urban Development Corporation (KIND) said on the 2nd that on the 1st it signed a memorandum of understanding (MOU) with Danantara, a sovereign wealth funds in Indonesia that will drive the country's new economic growth, to cooperate on infrastructure and urban development in Indonesia and neighboring countries.
Danantara manages about $900 billion in asset and is a key institution overseeing major state-owned enterprises, and is regarded as the economic engine that will reshape Indonesia's future industrial landscape.
Through this agreement, the two institutions agreed to pursue practical cooperation not only in traditional transport infrastructure such as roads, railways, and airports, but also in environmental facilities such as waste and wastewater treatment, renewable energy generation and transmission, and urban and real estate development including data centers. In particular, they agreed to expand the scope of cooperation beyond Indonesia to nearby ASEAN countries such as Malaysia and Singapore, as well as to third-country markets including Saudi Arabia.
Danantara will provide promising project information, and KIND plans to recommend outstanding Korean corporations and review investments together with Danantara. KIND is currently pursuing a Jakarta data center construction project while reviewing various projects in Indonesia, and expects this partnership to further accelerate the identification of new projects.
Kim Bok-hwan, president of KIND, said, "As Danantara is a core pillar of Indonesia's economic growth, this will be an optimal opportunity to combine KIND's investment capabilities with the world-class technological prowess of Korean corporations."