Posts tagged ‘Indonesia’
On 17 November 2011, the South Korea-Indonesia defense relationship received a strong boost with President Lee and President Yudhoyono holding talks on defense industry cooperation and agreeing to strengthen ties. However, there are emerging issues that will present challenges to the relationship.
On 11 October 2011, Daewoo Shipbuilding and Marine Engineering (DSME) announced that it had begun final-phase negotiations with the Republic of Indonesia Government on the construction and sale of three Type-209 submarines. However, on 26 October 2011, Turkish newspaper Hurriyet Daily News reported that Turkish procurement officials believed the DSME announcement to be premature.
On 24-25 October 2011, South Korea and Indonesia held the third Joint Task Force on Economic Cooperation. The two sides made a number of announcements on improving what is already a rapidly growing and increasingly significant economic relationship. Read more
On 11 October 2011, Daewoo Shipbuilding and Marine Engineering (DSME) announced that it had begun final-phase negotiations with the Republic of Indonesia Government on the construction and sale of three Type-209 submarines. Read more
On 3 October 2011, Korea-Indonesia Week—a six day festival of Korean culture in Jakarta, Indonesia, concludes. The week included K-pop performances, film screenings, traditional painting exhibition, a food festival and of course taekwondo. Read more
On 9 September 2011, Indonesia and South Korea are scheduled to sign agreements on plane purchases on the sidelines of the meeting between Defence Minister Kim Kwan-Jin and his Indonesian counterpart, Purnomo Yusgiantoro. Read more
Samsung C&T has announced plans to invest USD150-200 million in an Indonesian solar power plant with a panned capacity of 50MW. Following a meeting with Samsung C&T CEO, Shin Kim, the Indonesian Coordinating Minister for Economic Affairs, Hatta Rajasa, stated that the president of Samsung C&T had expressed a commitment to the development of solar energy in Indonesia. Read more
Samsung C&T has announced plans to invest USD150-200 million in an Indonesian solar power plant with a panned capacity of 50MW. Following a meeting with Samsung C&T CEO, Shin Kim, the Indonesian Coordinating Minister for Economic Affairs, Hatta Rajasa, stated that the president of Samsung C&T had expressed a commitment to the development of solar energy in Indonesia. Read more
On 21 February 2011 the Chosun Ilbo newspaper reported that an operation by National Intelligence Service (NIS) officers to obtain information on Indonesian negotiating strategies for the procurement of the Korea Aerospace Industries (KAI) T-50 ‘Golden Eagle’ Trainer Jet. Read more
On 5 January 2011, the Ministry of Strategy and Finance (MOSF) stated that food will be included in the price control measures to be announced on 13 January 2011.
In 2010, Korea’s average inflation rate remained within target levels at 2.9 percent, however, food prices reached 16-year highs in the second half of the year. The price rises in basic commodities in December 2010 and the ongoing impact of Foot and Mouth Disease (FMD), are now beginning to flow through to consumers, with substantial price rises expected as Lunar New Year approaches.
The rapid rise in food prices is not unique to Korea. The United Nations Food and Agriculture Organization (FAO) has stated that the global food price index for December 2010 was at its highest level since records began in 1990. Concerns regarding rapid food price rises have already prompted government action in China, India, Indonesia, Singapore and Taiwan. Measures have included direct control over prices, the release of government stockpiles and the encouragement of private production.
The Lee Myung-Bak administration has strongly promoted its efforts to fight inflation and the price control measures to be announced on 13 January 2011 have attracted substantial media interest. This presents a risk that the administration will be perceived as ineffective as prices continue to rise due to external conditions.
