SK chemicals Stands as a Top Global Company in IndonesiaRepresentative Director Cha Seung-Jin of SK KERIS, SK chemicals? local corporation in Indonesia, received the Indonesian President?s award in a ceremony held at the Presidential palace in Jakarta on January 17, for its successful localization and conspicuous role in enhancing the nation?s exports.On January 17, the SK chemicals local investment corporation (CEO: Hong Ji-ho/ www.skchemicals.com) of SK KERIS received the Presidential ?Primaniyarta Award 2002? along with a trophy and a plaque from President Megawati Sukarnoputri.So far there have been few foreign corporations to win a Presidential award in Indonesia, which made the award all the more worthwhile for not only SK chemicals but indeed all Korean business enterprises.In Indonesia, the selection of awardees for a Presidential prize goes through a rigorous process of screening, as divided into the categories of large-sized corporations and SMEs. Judges consist of members from the Ministry of Industry and Trade (Chief Judge), the Ministry of Justice, the Ministry of Finance, the Central Bank and BKPM (Investment Coordinating Board). A Presidential award is particularly valued by business enterprises in the country.This year a total of 34 business enterprises (13 on the national level, including SK KERIS, plus 21 on the provincial level) were selected. SK KERIS was the 12th among those to receive a prize on the national level.Awardees are selected on the following attributes1) Degree of contribution to the nation?s balance of payments in foreign trade2) Legal compliance3) Exemplariness in labor-management relations and environmental protectionSK KERIS Representative Director Cha Seung-Jin said the local corporation had the honor of being awarded the Presidential prize thanks to its impeccable business performance in many respects, including the:1) Export of 50% or more of its entire production (worth an average of at least $80 million a year)2) Successful localization in a relatively short period of ten years (reduced the number of Korean staff from 60 to 16, trained many local managers and engineers, and gave local staff opportunities for training and education in Korea)3) Full utilization of the government?s policies and systems (concerning those related to financing, tax, approval and authorization) as well as full compliance with laws and regulations4) Positive use of main and ancillary materials (including packing materials) made in production in Indonesia 5) Setting an example for others to follow in such areas as labor-management relations, environmental protection and overall management Mr. Cha Seung-Jin said, ?I think this great event was a result of the entire staff, both Koreans and Indonesians, having faithfully played their parts. This is really a thing to be proud of.?The Indonesian word ?Primaniyarta? is a composite word (prima noble) meaning ?the most praiseworthy,? and is the namesake of an award presented to an excellent business enterprise certified by the Indonesian government. This year?s biennial award-giving ceremony was the 8th such event after an interval of four years in the wake of IMF-related financial crises. It is said that authorities increased the number of award-winners to 13 (including affiliates of Teijin and Toray of Japan) from 5, as it was so difficult to select the top contestants from among all of those showing an excellent score. Korean Ambassador in Jakarta Kim Jae-Seop will hold a party in commemoration of the event.Introduction of SK KERIS- SK chemicals? local joint venture in Indonesia established in 1990 in cooperation with Batik KERIS Group as part of its globalization strategy and as a beachhead for advancement into Southeast Asian markets- Commenced production in 1993 with its factory for polyester yarns- Facility is capable of the daily production of 215 tons of long-fibers and 180 tons of polymers- Addition of a facility capable of the daily production of 220 tons of PET bottles in October 1996- Its yarns occupy a 40% share of the local market, and PET bottles are exported to EuropeLocation: Tangerang, West JavaSize of Land: 40haCore products: Fiber-grade chips (180 tons daily), PFY (215 tons daily) and bottle-grade chips (245 tons daily)Capital stock: US$80 millionTotal amount of investment: US$300 millionNumber of employees: 1,020Equity ratio: 92.5% by SK chemicals and affiliates and 7.5% by the Batik KERIS GroupSales in 2001: US$148 millionPhone: 62-21-537-1111About SK chemicalsEstablished in 1969, SK chemicals (total number of employees: about 1,500) specializes in chemical materials, such as PTA/DMT, PET and other specialty chemical products as well as acetate fibers. In 2002, the Company posted about 800 billion won in sales. It has secured a position as the top chemical material manufacturer in Korea over the past three decades, and now aims to expand into the bioscience business based on specialty chemicals. SK chemicals is currently making plans to establish a facility for the production of PET products in Poland. Its network of production facilities is comprised of outlets in Suwon, Ulsan (in Korea), Jakarta (in Indonesia) and Qingdao (in China). It also maintains offices in New York, Tokyo, Shanghai and Frankfurt.