South korea has much more investment especially the shipping of technology to indonesia than its rival japan. The giant steel company of korea, pohang iron and steel company(POSCO) stated their investment strategy completely different from japanese. Senior vice president of posco lim seung kyu said his company supports the steel industry of indonesia, thus posco claimed to support the upstream and downstream of steel business of the state.
Lim said, it is not easy to spend much money especially giving technology by posco. He added korean investment both downstream and upstream is not only to take porfit and buid the factory while japanese takes only the down stream with least investment yet attaining big revenue. Japan in order to make downstream products has to import upstream product in their country thus the basic technology will not enter into indonesia. There are alot of technology transfered to indonesia. In term of strategy the joint ventrue between posco and pt krakatau steel indonesia is the same which used in gwangyang and pohang factory of korea. Posco focuses in automotive production capable to produce 23 million tons in gwangyang, while in pohang capable to produce 18 millions tons with varies of productions.
Krakatau steel and posco works in partnership since 2014 and capable to produce 3 millions tons for upstream products and the government wishes to expand production to 10 million tons with first investment worth of 3 billion dollars in cilegon banten to produce the steel.
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