REPUBLIKA.CO.ID, JAKARTA -- Indonesia's abundant natural resources have yet to be optimally exploited for public welfare because of inadequate and unaccountable management, according to President Joko Widodo (Jokowi).

"We really have natural resources in abundance, but the livelihood of our people are not at par with other countries that do not have natural resources," President Jokowi stated during the signing of a memorandum of understanding on joint action for saving natural resources at the State Palace here on Thursday.

The memorandum of understanding on joint action of saving natural resources was signed jointly by all ministries and institutions, and the leaders of Corruption Eradication Commission (KPK), the National Policy (Polri), the National Defense Forces (TNI), and the Attorney General's Office in the presence of the president.

The president pointed out that Indonesia lags far behind South Korea in terms of public welfare and economic development.

"Both countries started building their economies in 1967, and based on data I have received, the gross domestic product of South Korea at the time was US$4.7 billion, while Indonesia's was better at US$5.9 billion," Jokowi revealed.

President Jokowi affirmed that as of now, the economic conditions and infrastructure in South Korea are much better than that in Indonesia.

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