Busan, Nov. 26 -- Head of the Indonesian Investment Coordination Board (BKPM), Bahlil Lahadalia, said that three giant South Korean corporations are prepared to invest US$8.8 billion in Indonesia next year.

"On Monday, November 25, President Joko Widodo had a lunch meeting with 10 CEOs of giant Korean corporations that have been operating in Indonesia for quite some time," he said in Busan, South Korea, Tuesday.

The 10 corporations are Lotte Corporation, Posco, Hankook Technology Group, SK E&C, CJ Group, LG Chem, GS Global, Daewoo Shipbuilding & Marine Engineering, Doosan Corporation, and the Korea Exim Bank (Kexim).

The BKPM Chief said that the companies have previously been operating in Indonesia, but they are looking to increase the...