South Korea became the third largest origin country in terms of direct foreign investment (DFI) in Indonesia in first-quarter 2021, during which Hyundai Motor began construction of an electric vehicle (EV) plant there.
According to Indonesia Investment Coordinating Board (BKPM), FDI investment projects totaling IDR111.7 trillion (US$7.74 billion) were approved in first-quarter 2021, increasing 0.6% sequentially and 14.0% on year. Singapore was the largest contributing country accounting for 34.0% of the total, followed by China (13.6%), South Korea (11.1%), Hong Kong (10.7%) and Switzerland (6.1%).
Many international high-tech enterprises have set up operational or production bases in Batam, including Infineon, NXP Semiconductors, Philips, Schneider Electric, Solectron Technologies, Panasonic, Panasonic Shikoku Electronics, Casio Computer, Seiko Epson, Fujitech and Sanyo Precision.
