RI - Korea Economic Ties To Improve Despite Political Uncertainties

Jakarta, May 16 (Antara) - Former South Korean Ambassador to Indonesia Lee Sun Jin expressed his optimism that economic relation between the two countries will improve, although political uncertainties in East Asia region remain a challenge that needs to be addressed. "South Korea`s outflow investment to ASEAN countries including Indonesia is increasing during the past eight years from 10 percent in 2005 to 19 percent in 2012. The number is higher compare with South Korea`s investment in China that reaches 40 percent in 2005 but decreased to be only 14 percent last year," he said during a seminar here on Thursday. The seminar entitled "Enhancing the South Korea-Indonesia Middle Powers Partnership" was held to commemorate 40th anniversary of Indonesia-South Korea diplomatic relations. The professor at Institute for East Asian Studies of Sogang University added Indonesia and other countries in ASEAN are predicted to have positive economic growth in the future which will attract more South Korean investors to do business in the region. As to the challenges in developing bilateral relations between Indonesia and South Korea, Lee named political uncertainties such as conflict in Korean peninsula, territorial disputes between some countries in the region to be the factor that can hamper cooperation between the two countries. He emphasized the need for leaders from Indonesia and South Korea to have a high commitment in developing bilateral cooperation and conduct more dialogue either at the level of government officials or think tanks to develop trust between the two sides. "In view of mutual distrust, regional or global powers cannot move together," he noted. Apart from that, Indonesian Foreign Affairs Ministry`s Director General for Asia Asia-Pacific and African Affairs Yuri Thamrin who also attended the Thursday seminar said more needs to be done in promoting education and technology cooperation between Indonesia and South Korea. "Exchange of students between the two countries is still imbalance," Yuri said, adding that in 2012 there were 800 Indonesian students studying in South Korea, meanwhile only 300 South Korean students in Indonesia.