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Hyundai to build production plant in Bekasi

27 November 2019 11:40

ULSAN - South Korean automaker Hyundai Motor Company will build a production plant in Bekasi, West Java with a total investment value of US$ 1.5 billion in 2020.

The memorandum of understanding (MoU) related to the investment was signed by Investment Coordinating Board (ICB) Head Bahlil Lahadahlia and Hyundai CEO Lee Woon-hee on Tuesday (26/11) at the Hyundai factory complex in Ulsan, South Korea.

“The licencing process has been completed, and in the first stage they will start running the factory in January 2020. It is expected that 250,000 units will be produced in the first year of production,” said Mr Lahadahlia in an official statement on the Cabinet Secretariat’s website.

The production amount, said Mr Lahadahlia, will make Indonesia the location of Hyundai’s primary office outside South Korea. Currently Hyundai’s primary office outside South Korea is located in Malaysia.

The MoU signing was also attended by President Joko Widodo, Coordinating Minister for Economic Affairs Airlangga Hartarto, State Secretary Pratikno, Foreign Minister Retno Marsudi, Industry Minister Agus Gumiwang Kartasasmita, Trade Minister Agus Suparmanto, and Indonesian Ambassador to South Korea Umar Hadi. (MS)

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