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South Korea smooths sailing to Indonesia with port investment

Corp - Ports 811 Indonesia 80 Industrials - Capital Goods 503 Info Tech - Tech Hardware 656 Mode - Seaborne 1658 South Korea 521

South Korea’s Busan Port Authority is investing in Indonesian port facilities as part of the government’s “New Southern Policy” which is designed to boost South Korea’s export prospects. While not as ambitious as China’s Belt-and-Road, the move nonetheless follows the signing of the RCEP trade deal which will reduce trade barriers between South Korea and Indonesia. Indonesia represented just 1.5% of South Korean exports in 2019 led by refined oil, semiconductors and fabrics. South Korean exporters to the Probolinggo and Surabaya ports should experience smoother logistics and include CJ C...

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