23-05-2025
Daewoo E&C chair explores Indonesia growth in talks with President Prabowo
South Korean builder Daewoo Engineering & Construction said Friday that Chair Jung Won-ju met with Indonesian President Prabowo Subianto Djojohadikusumo at the presidential palace in Jakarta on Wednesday to discuss potential collaborations on new business ventures in the country.
'Since entering the Indonesian market in 1986, Daewoo E&C has maintained a long-standing partnership through various projects," Jung said at the meeting. "It has been a great honor to contribute to Indonesia's growth."
The chairperson also expressed the company's strong interest in broadening its presence across a range of sectors, including real estate development, infrastructure, power generation, renewable energy and petrochemical plants.
In a notable gesture, Prabowo arranged impromptu introductions between Daewoo E&C and several high-ranking Indonesian officials.
These included his brother and special envoy for energy and environment Hashim Djojohadikusumo, Minister of Public Housing and Resettlement Maruarar Sirait and Rosan Roeslani, minister of investment and CEO of Danantara Indonesia, the nation's sovereign wealth fund.
'We highly value Daewoo E&C's expertise in real estate and infrastructure development," Prabowo said. 'We look forward to working together on projects that can make meaningful contributions to Indonesia's economic development."
Over the past four decades, Daewoo E&C has been involved in seven major projects in Indonesia, securing contracts worth some $700 million. The company has also established a local office and is actively diversifying and localizing its operations in the real estate and infrastructure sectors.
'The chairman's visit provided an opportunity to showcase our capabilities and vision while expanding our network,' a Daewoo E&C official said. 'We aim to strengthen our presence in the Indonesian market through strategic, mutually beneficial partnerships with local developers and construction firms.'
