SEOUL -- SK Networks forged business ties with Indonesia's largest steel maker PT Krakatau Steel (Persero) to expand its business in Southeast Asia. The trading arm of South Korea's SK Group hopes to expand its steel business in Indonesia to $200 million.
SK Networks, which supplies overseas buyers with products made in South Korea and abroad, said in a statement Thursday that a memorandum of understanding was signed in a ceremony attended by SK Networks Chairman Choi Shin-won and Krakatau Steel CEO Mas Wigrantoro Roes Setiyadi.
SK Networks hopes to find new business opportunities in Indonesian state projects by taking advantage of its partnership with Krakatau Steel. Choi met with Rini Soemarno, Indonesia's minister in charge of state enterprises, on Tuesday, calling for support to help SK Networks become a partner in Indonesia’s growth and development.
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