Bamsoet Appreciates the Contribution of Korindo Group’s Chairman to the National Economy

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Chairman of the People’s Consultative Assembly of the Republic of Indonesia, Bambang Soesatyo, presented Korindo Group Chairman Seung Eun Ho with an honor, a medal, and a plaque in recognition of his contribution, role, and consistency in growing Indonesia’s economy through the Korindo Group, which began a series of South Korean investments inland in 1969.

“Another cause for awarding these medals is to commemorate the 50th anniversary of diplomatic relations between Indonesia and South Korea. Through its diverse business divisions and 2.5 billion USD in investments, Korindo Group has contributed to maximizing our country’s economic potential and enhancing local welfare for over fifty years. Bamsoet, Soesatyo’s moniker, stated in a press release on Thursday (12/1/2023) that the company has over 20,000 employees, of which 99 percent, or 19,800, are local workers.

He then listed the business divisions of the Korindo Group, which include industries like plantations, forestry and wood processing, paper manufacturing, wind energy, heavy industry, logistics, commerce, real estate, and banking services.

“In addition to increasing local labor absorption, Korindo Group demonstrates its social responsibility by contributing to the development of social infrastructure and by actively participating in social and charitable activities across the country through Korindo Foundation.”

Bamsoet described how Korindo Group had constructed 9 PAUDs (a combination of playgrounds and kindergartens), 9 kindergartens, 13 elementary schools, 6 junior high schools, 3 high schools, and 2 libraries on the mainland. The company also constructed religious structures, including 23 mosques, 13 churches, and seven cathedrals. The company’s contribution and sense of responsibility are exemplified by its assistance with hospital construction, public facility development, the provision of study facilities and tools, and the awarding of scholarships to tens of thousands of high-achieving Indonesian schoolchildren.

Related news: Korindo in its Transition to an Eco-Friendly Company

“Not only that, there are environmental conservation actions, housing development assistance, community health facilities and service delivery, funding for MSMEs (micro, small, and medium enterprises), humanitarian aid for natural disaster victims, staple food allocation for the poor, personal protective equipment and logistics distribution for the COVID-19 pandemic, and many others, which are consistently made throughout the country,” he stated.

Soesatyo added that Korindo’s success in spearheading Korean business investments in Indonesia and promoting a broader economic partnership between the two countries would not have been feasible without Chairman Seung’s expertise as the company’s central figure and leader.

In light of this, he hoped that these honors and recognition would encourage Korindo Group to remain active and continue contributing to the nation’s economic recovery, which is currently underway.

“Korindo Group is also willing to contribute to the development of Nusantara Capital City (IKN) in East Kalimantan. 800 hectares of Korindo’s 100,000 hectares of land in the region will be utilized for industrial and other purposes to guarantee the success of the city. This demonstrates how Korindo’s economic diplomacy significantly contributes to the improvement of bilateral relations and cooperation between our country and Korea.

MPR members Jazilul Fawaid, Hidayat Nur Wahid, and Fadel Muhammad, as well as DPR’s Robert Kardinal, attended the ceremony at the MPR/DPR/DPD building in Jakarta. Also present were Vice Chairman Park In Chul, Vice President Jo Myung Kook, Managing Director Kim Young Cheol, President Director Song Chang Geun, Secretary General Seo Jeong Sik, President Director Moon Jin Seok, Managing Director Lee Kang Hwan, and Managing Director Ahn Geun Hyo.