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Samsung to Increase Investment in Indonesia
Feb 24, 2003
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South Korean company Samsung Electronics Co. said on Monday that it plans to increase its investment in Indonesia to meet growing local and overseas demand for electronic goods this year.

Samsung plans to expand its factory in Indonesia and produce more TVs, color monitors, and DVD players, Lee Kang Hyun, Samsung's general marketing manager in Indonesia, told Dow Jones Newswires. However, he declined to specify the amount of investment Samsung plans to make.

The company's announcement is a bit surprising, as many major electronics manufacturers are currently pulling out of Indonesia due to rising labor disputes, higher taxes, and reported corruption.

But Mr. Lee, who is also chairman of Indonesian Electronics Association, said he expects the electronic business in Indonesia to pick up this year given growing demand for information technology development among corporate users.

He expects television sales volumes at the Indonesian unit to rise to around 350,000 units this year from 250,000 last year, while its color monitor sales volume will total around 250,000 units, compared with about 150,000 last year. Mr. Lee expects Samsung to sell around 3,000 DVD players this year, compared with around 2,000 units in 2002.

"The value of local sales is expected to increase to U.S. $300 million from $200 million last year," he said, projecting the company's exports to rise to a little more than $800 million from around $750 million last year. (Dow Jones)

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