Jakarta (ANTARA) – Minister of Public Works and Public Housing (PUPR) Basuki Hadimuljono welcomed South Korean investors to invest in developing the new capital city (IKN) Nusantara.”We already have a memorandum of understanding (MOU) as a basis for cooperation, and we are very open to work with South Korean investors,” Hadimuljono noted in a statement received here, Friday. The minister affirmed that cooperation between Indonesia and South Korea had existed since a long time. Earlier, the ministry had collaborated with South Korean state owned enterprises, K-Water, which has technological experience and capability related to water management. In order to strengthen and expand international cooperation to develop IKN Nusantara, the PUPR Ministry attended the South Korea-Indonesia New City Cooperation Forum organized by the South Korean Ministry of Land, Infrastructure, and Transport in Jakarta. Hadimuljono said the forum will become a starting point to expand cooperation between the two countries, especially in the development of IKN Nusantara. In addition, Indonesia and South Korea have inked a memorandum of understanding on Technical Cooperation in the Relocation and Development of IKN that will serve as the basis for a bilateral mechanism for South Korean companies to actively contribute in developing IKN Nusantara, he remarked. The decision to relocate the capital city from Jakarta to IKN Nusantara in East Kalimantan was taken in 2019. The relocation was conducted on account of the enormous population pressure, massive urbanization, and environmental damage on Java Island, especially Jakarta, he explained. “The Indonesian government is very serious about developing IKN Nusantara. (This is) because Jakarta’s capacity is very limited in supporting the population, raw water availability, economic development, transportation, and others,” he stated. In addition, the minister observed that improving Jakarta in all aspects is much more expensive than building IKN Nusantara. Moreover, the Indonesian government aims to evenly distribute development across Indonesia by relocating the capital city. Hadimuljono remarked that with the application of the Future Smart Forest City concept, the focus for IKN Nusantara development in the early stage in 2022-2024 will be focused on the Central Government Core Area (KIPP) covering an area of 1,600 ha, or 25 percent, of the total KIPP area of 6,600 hectares. The remaining five thousand hectares will be maintained as green areas. To date, around 50 construction projects have been carried out by his ministry at a total cost of Rp62 trillion sourced from the state budget. Since 2022, the ministry had conducted the construction of basic infrastructure, such as drinking water, sanitation, logistics roads, ministerial buildings, and others, he remarked. “Currently, the progress has reached around 20 percent, with a total of around 50 construction projects. With the Future Smart Forest City concept, the development is really focused on quality, aesthetics, and environmental sustainability,” he stated. Meanwhile, Minister of Land, Infrastructure, and Transportation of South Korea, Won Hee-Ryong, expressed optimism that from this forum, the two countries would be able to create new values and opportunities for cooperation and share their respective experiences for the transfer of knowledge. “I hope that the two countries will continue to actively cooperate and move towards a better future, and the relationship between Indonesia and South Korea can be more closely intertwined

Source: Antara News Agency (ANA)