Jakarta-Three companies from Korea, namely PENTA CA CO Ltd, Shinhwa Chemical and YOUNGCHANG ENTERPRISE CO., LTD, have defaulted on business with companies from Indonesia.
Initially, these three companies from Korea came to Indonesia to purchase oil with PT Garuda Multi Energi Company in Indonesia.
As stated by Mrs. Sofia Martha as the Finance Director of PT. Garuda Multi Energi, that a number of points have been agreed in the cooperation contract.
“In the contract that was discussed with Mr. Seung Dong Cho (Bobby Cho) as the Director of YOUNGCHANG ENTERPRISE CO., LTD and also attended by Mr. Sung Jin Park from Shinhwa Chemical (As Authorized Person from PENTA CA CO Ltd, representing PENTA CA CO Ltd, with the CEO Mr. Nam Si Bum) have agreed to cooperate by providing a payment guarantee which has never been given so far,” Martha told this media, Tuesday, 11 April 2023.
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Sofia said that her company had provided tolerance for 5 days in accordance with the Transaction Procedures contained in the Contract that Matured on April 7, 2023. “However, until now these three companies have not carried out Transaction Realization. In a reply email sent from One of these companies, namely Mr. Bobby Cho from YOUNGCHANG ENTERPRISE CO., LTD, stated that the payment will be made on April 7, 2023, ” explained Martha
Sofia also emphasized that her party would conduct a legal summons against PENTA CA CO Ltd and blacklist companies and people from the Korean company, so that other companies in Indonesia and outside Indonesia do not do business with them. “We have evidence that can be accounted for,” said the finance director of PT Garuda Multi Energi. (Wandy)
