Hyundai Motors expressed interest to invest in industrial areas in Indonesia

JAKARTA, Jul 25, 2019, ANTARA. President Joko Widodo (Jokowi) held discussions with leaders from the Hyundai Motor Group centering on efforts to boost investment in Indonesia, reported the ANTARA.

“We spoke about the investment plan from Hyundai Motors in Indonesia,” Minister of Industry Airlangga Hartarto remarked after accompanying President Jokowi to welcome Hyundai Motors delegates at the State Place in Jakarta on Thursday.

Minister Airlangga revealed that Hyundai had elaborated on the potential of automotive technology development in future, including the development of electric, automatic, and drifting vehicles.

The minister expounded that Hyundai Motors is conducting a study and survey of suitable industrial estates for investment development.

Hyundai Motors expressed interest to invest in industrial areas in Bekasi, Karawang, Purwakarta (Bekapur), and Subang.

Hyundai Motors plans to produce vehicles in Indonesia and has set an export target of 40 percent abroad and in the domestic market.

The minister confirmed that the investment value is yet under discussion.

“Yes, of course. Mr. President responds to the plan positively, as the automotive industry becomes one of Indonesia’s main exports in future,” the minister emphasized.

Hyundai Motors Group delegates, who met with President Jokowi, comprised Executive Vice Chairman Chung Euisun, President Kong Young Woon, Executive Vice President Park Hong-Jae, and Senior Vice President Lee Youngtack.

In the meantime, Cabinet Secretary Pramono Anung, Minister of Industry Airlangga Hartarto, and Head of the Investment Coordinating Board (BKPM) Thomas Lembong accompanied President Jokowi during the meeting.

Hartarto earlier stated that Hyundai had targeted to commence production in 2021, with a production capacity of 70 thousand to 250 thousand units per year.

In addition, the automotive industry from South Korea is expected to be able to absorb a workforce of 3,500 people.