Daewoo E&C announced on the 23rd that Chairman Jung Won-joo visited President Prabowo Subianto Djojohadikusumo at the presidential palace in Jakarta, Indonesia, on the 21st and discussed various cooperation plans, including participation in new projects.

Chairman Jeong Won-joo of Daewoo E&C / Photo = Daewoo E&C

During the visit, Chairman Jung noted, "Daewoo E&C has formed a continuous partnership through various projects since its first entry into Indonesia in 1986, and considers it a great honor to have been part of Indonesia's growth process," and expressed a desire to participate in various fields, including real estate development in Indonesia, infrastructure construction, power generation, renewable energy, and petrochemical plants.

Indonesian President Prabowo Subianto welcomed Daewoo E&C's plans to expand its presence in Indonesia and said, "I highly value Daewoo E&C's capabilities in real estate and infrastructure development, and hope to uncover and develop projects that can contribute substantially to Indonesia's economic development through this."

Over the past 40 years, Daewoo E&C has participated in seven projects in Indonesia, recording contracts worth approximately $700 million. Additionally, it has established a local subsidiary in Indonesia to promote diversification and localization in real estate development and infrastructure projects.

A representative of Daewoo E&C stated, "Through Chairman Jung Won-joo's meeting with the Indonesian president and key government officials, we were able to convey Daewoo E&C's capabilities and vision and expand our network," adding, "We will seek to expand our presence in Indonesia through strategic and mutually cooperative partnerships with local developers and construction companies."