FKI sends economic delegation to Indonesia following new government launch (2025)

The Federation of Korean Industries (FKI) announced on April 20 that it will dispatch an economic delegation to Indonesia for a two-day visit from April 28 to 29. The delegation will be led by Shin Dong-bin, Chairman of Lotte Group, and will include top executives from major South Korean conglomerates such as Samsung Electronics, SK, Hyundai Motor, LG, Lotte, POSCO, Hanwha, HD Hyundai, and KB Financial Group.

The delegation aims to establish a strong network with the new Indonesian government, led by President-elect Prabowo Subianto, which was launched in October 2024. Discussions will focus on expanding bilateral economic cooperation and mutual investment, with particular emphasis on next-generation growth sectors including energy, infrastructure, and digital industries.

On April 28, the first day of the visit, the delegation will co-host the Korea-Indonesia Business Roundtable with the Indonesian Employers Association (Apindo). Key government officials and business leaders from both countries are expected to participate, with discussions centered on industrial cooperation and policy support measures. The delegation will also hold official meetings with Indonesia’s Coordinating Minister for Economic Affairs, the Minister of Investment, and the Minister of Industry.

Kim Bong-man, Head of FKI’s International Division, stated, “Since the inauguration of the new Indonesian administration, bilateral exchanges have yet to be fully activated. This delegation represents a proactive step by economic organizations and corporations to enhance private-sector cooperation.”

Indonesia, the world's fourth most populous country, is emerging as a key partner for Korean companies in the ASEAN region. With a rapidly growing domestic market driven by a rising middle class and abundant natural resources—including the world’s largest nickel reserves—Indonesia offers strong economic potential.

In 2023, trade between South Korea and Indonesia reached $20.5 billion, making Indonesia Korea’s 13th largest trading partner. Meanwhile, Indonesia's economy grew by 5.03% in 2024, marking the third consecutive year of growth above 5%.