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Bamsoet Appreciates Korindo Group Chairman for His Contribution to National Economy

By 13 January 2023Group News3 min read

Jakarta – MPR (People’s Consultative Assembly of the Republic of Indonesia) Chairman Bambang Soesatyo awarded Korindo Group Chairman Seung Eun Ho with a medal and plaque for his contribution, role, and consistency in developing Indonesia’s economy with Korindo Group, which initiated a series of South Korean investments inland in 1969. Due to his illness, Seung was represented by his son Robert Seung, who’s also the company’s Senior Vice Chairman.

“One other reason why we’re giving these awards is to celebrate the 50th anniversary of Indonesia and South Korea’s diplomatic relations. For over half a century, Korindo Group has helped maximize our country’s economic potential and improve local welfare through its diverse business lines and investments of 2.5 billion USD. The company boasts over 20,000 employees, with 99 percent or 19,800 of them coming from the local workforce,” said Bamsoet – Soesatyo’s nickname – in a press statement, Thursday (12/1/2023).

He proceeded to list Korindo Group’s business units, which encompass sectors like plantation, forestry and wood processing, paper production, wind energy, heavy industry, logistics, trade, property, and financial services.

“Besides raising local labor absorption, Korindo Group proves its social responsibility by contributing to social infrastructure development and constantly participating in social and charity activities across our nation, with Korindo Foundation as its platform.”

Bamsoet explained how Korindo Group had built educational facilities in the mainland, which covered 9 PAUDs (a combination of playgrounds and kindergartens), 9 kindergartens, 13 elementary schools, 6 junior high schools, 3 high schools, and 2 libraries. The company also established places of worship, including 23 mosques, 13 churches, and 7 cathedrals. The company’s contribution and responsibility as well manifested in hospital construction aid, public facility development, provision of study facilities and tools, and scholarships for thousands of overachieving students from Indonesia’s schools and colleges.

“Not only that, there are environmental conservation actions, housing development assistance, community health facilities and services 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 into Indonesia and pushing for broader economic partnership between both nations wouldn’t be possible without the expertise of Chairman Seung as a central figure and leader of the company.

That being the case, he hoped these awards and appreciation would encourage Korindo Group to remain active and continue taking part in driving national economic growth, which is currently recovering from the pandemic.

“Korindo Group is also ready to support Nusantara Capital City’s (IKN) development in East Kalimantan. Out of 100,000 hectares land that Korindo owns in the area, 800 will be used for industrial and other purposes to ensure the city’s success. This shows how Korindo’s economic diplomacy plays a significant role in improving bilateral relations and collaboration between our country and Korea,”

Held at the MPR/DPR/DPD building in Jakarta, the ceremony was attended by MPR members Jazilul Fawaid, Hidayat Nur Wahid, and Fadel Muhammad, as well as DPR (People’s Representative Council)’s Robert Kardinal. Korindo Group’s 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 were also present. (akn/ega) (Source: