Korea, Indonesia hold resources development meeting

Korea and Indonesia held the 20th meeting of their joint committee for mineral resources and energy cooperation at the InterContinental Hotel in Seoul Monday, Yonhap reported.

Yoon Jin-sik, minister of Commerce, Industry and Energy, met with his Indonesian counterpart Purnomo Yusgiantoro at the meeting along with some 80 other members from the two delegations.

Indonesia asked for Korean enterprises to bid for a new oil and gas project on the island of Java and promised to support 14 oil, gas, soft coal and metals mining projects in which Korean companies have invested US$850 million.

Yoon called on Indonesia to allow Korean firms to participate in the Natural Gas Liquid project, which is controlled by Indonesian national oil corporation Pertamina.

The Korean side also sought the import of Indonesian coal and gas through compensatory trade by the Korea Electric Power Corporation, which is constructing a 600 megawatt steam power plant in the world's fourth most populous country.(*)