South Korea’s SK Networks and Krakatau Steel, Indonesia’s largest steelmaker, have signed MOU to expand business in Southeast Asia. Krakatau Steel is the country’s only integrated steel mill which produces 3 million mt of steel at six manufacturing facilities. It also operates 25 affiliated companies.
SK Networks is the trading arm of SK Group. SK Networks also earlier signed an MOU with UnLtd Indonesia, an entity that nurtures social enterprises in Indonesia, to provide consulting support. While the specific investment plans were not disclosed, the partnership is intended to allow SK Networks to grow in Indonesia while it will support Krakatau Steel sales in the export market.