Korea Overseas Infrastructure & Urban Development Corporation (KIND) moved to cooperate with Daewoo Engineering & Construction and Indonesia's largest real estate developer, Sinarmas Land, to support Korean corporations' entry into development projects in Indonesia.
KIND said on the 9th that at the Korea-Indonesia Business Forum held at the Shilla Hotel Seoul on the 1st, it signed a letter of confirmation with Daewoo Engineering & Construction and Sinarmas Land related to residential and commercial development projects in Indonesia. Sinarmas Land is pursuing residential, commercial, and industrial real estate development and investment in Indonesia, Malaysia, China, Australia, and the United Kingdom. It is also a core developer leading BSD (Bumi Serpong Damai) City, a large-scale new town project near the Indonesian capital, Jakarta.
KIND said the signing is meaningful in that it took place during a memorandum of understanding (MOU) exchange ceremony within the Korea-Indonesia Business Forum, which was organized on the occasion of Indonesian President Prabowo Subianto's visit to Korea. Senior government officials and businesspeople from both countries attended the forum to discuss ways to expand investment and industrial cooperation.
Based on this confirmation of cooperation, KIND plans to continue expanding the discovery of promising urban development projects in Indonesia and support Korean corporations' overseas expansion.
A KIND official said, "This signing of the letter of confirmation is meaningful in that it further solidified the foundation for cooperation in Indonesia's urban development projects," adding, "KIND will continue to actively support Korean corporations' entry into overseas investment and development projects."