Michang Oil, one of the largest transformer oil producers in South Korea, has launched a new business in Indonesia. (Antara Photo/Aji Styawan)
South Korea's Michang Oil Opens Up Shop in Indonesia
AUGUST 06, 2019
Jakarta. Michang Oil, one of the largest transformer oil producers in South Korea, has launched a new business in Indonesia under a locally registered entity called Sari Michang Concord in an effort to tap into the Southeast Asian country's growing electricity network.
Transformer oil is a critical part for insulating and cooling transformers, a key component in the ever-growing power grid which President Joko "Jokowi" Widodo expects to reach every corner of Indonesia by the end of this year.
The government is expecting completion of its 35,000-megawatt electricity development project that will ensure the country's energy independence as it continues its transformation into a developed economy.
"We know the Indonesian government is building many new power plants throughout the country. We would like to contribute to that electrical infrastructure development," Sari Michang director Yoo Seung Soo said in a statement on Tuesday.
Sari Michang will be based in Jakarta with a branch office in Surabaya.
Michang Oil has more than 50 years of experience in producing oil-based products in South Korea. Apart from transformer oil, Michang also produces white mineral oil used in the food, cosmetics and pharmaceutical industries, as well as grease and lubricants.