Ministry of Finance of Republic of Indonesia : Indonesia-South Korea Strengthen Cooperation in Appraisal Service

Jakarta, 27/01/2016 MoF - The Finance Professions Supervisory Centre (PPPK) signed a memorandum of understanding (MoU) with the Korea Association of Property and Appraisers (KAPA) on Wednesday (27/1) in the Hall Djuanda Ministry of Finance, Jakarta. The two institutions agreed to intensify their cooperation in the field of appraisal, including for land acquisition purpose.

The MoU will include some of the scope of cooperation, among others, in terms of research, the exchange of experience and expertise, training and capacity building, as well as the government's development assistance related to the appraisal and land acquisition compensation.

As known, along with the increasing economic development in a country, the concept of land acquisition for public interests is increasingly important. South Korea has been known as one of the countries that already have a system of land acquisition for public purposes in the world.

As a country that is accelerating its development, Indonesia needs to learn the land acquisition procedures carried out by the South Korean government, including appraisal methods in order to provide its compensation. This is because, frequent conflicts related to land acquisition is increasingly occurred.

Therefore, the head of PPPK Langgeng Subur hopes, the MoU can deliver progress in the field of appraisal, including in land acquisition matter. 'The conflict can be reduced if we have a clear policy, transparent procedures, and professional appraisal service in providing lucrative compensation,' he said. (nv)