BNI Potentially Work on Indonesia-South Korea Trade Up to US$ 30 Billion

BNI Potentially Work on Indonesia-South Korea Trade Up to US$ 30 Billion

Jakarta, 2 June 2022 -- PT Bank Negara Indonesia (Persero) Tbk. or BNI (stock code: BBNI) has the potential to work on the business potential of the Indonesia-South Korea trade which is predicted to reach US$ 30 billion this year.

Indonesian Ambassador to South Korea, Gandi Sulistiyanto, positively welcomed the collaboration between BNI and KB Kookmin Bank. This collaboration can not only boost the company's business, but also the Indonesian economy in the future.  

He noted that last year the trade value between Indonesia and South Korea had reached US$ 17 billion. This year he is optimistic that the trade value can increase significantly to US$30 billion.  

"The cooperation of BNI with South Korea is very good, especially BNI already has a branch here. This collaboration can create syndication and trade agreements. So that it can support BNI's business in the future to be even better. We also know that the investment coming from South Korea is quite large. This has the potential to increase the export-import opportunities of the two countries. I am very optimistic that the trade value this year can reach US$30 billion," he said.

Gandi also hopes that the Government and the House of Representatives (DPR) can immediately ratify the regulations or legal umbrella for the Indonesia Korea Comprehensive Economic Partnership Agreement (IK-CEPA). 

Moreover, this collaboration is useful for attracting investors from the country of ginseng more optimally and efficiently.  

For your information, BNI has so far continued to expand its international business by creating new business opportunities, along with the increasing economic growth in Indonesia.  

One of the strategies is to synergize with KB Kookmin Bank and it is stated in the Memorandum of Understanding.  

The signing was carried out by BNI Treasury and International Director Henry Panjaitan with the Head of the Global Business Group of KB Kookmin Bank, as well as serving as Chief Global Strategy Officer/Senior Managing Director of Kookmin Bank Financial Group Nam Hoon Cho on 30 May 2022 in Jakarta.  

"BNI continues to strive to increase its role as Indonesia's global bank with one of its strategic steps, namely by collaborating with KB Kookmin Bank as the number one bank in South Korea," said Henry.  

He conveyed, this business collaboration includes treasury transactions, syndicated loans, trade finance, funding in local currencies and exchange of information for customers who want to trade or invest in the countries of origin of the two banks.  

In addition to benefiting from business transactions between the two banks, through this collaboration BNI as a development agent can also facilitate the entry of South Korean state investment into Indonesia, which has increased rapidly in recent years.  

"In the future, we hope that the two banks can enhance closer relations while producing business transactions that are mutually beneficial to both parties," he added.  

In addition, this collaboration also includes the exchange of customer information, where BNI as an Indonesian global bank can facilitate Indonesian exporters to expand their market in South Korea, by connecting them to South Korean importers who are customers of KB Kookmin Bank.  

For KB Kookmin Bank, the strategy to enter the Indonesian market was initiated earlier in 2018 by acquiring the shares of Bank Bukopin, where until now the total ownership of Bank Bukopin is 67%.


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