TRUMP ORG LUXURY CONDO DEAL in INDONESIA, bank/builder S.KOREA GOVT

**Centerleftfl** · 07-01-2019, 10:02 PM

Oh well, that's just how they ROLL in Trump country! For Trump, by Trump, of TRUMP. FUCK THE RULES! Hell the 'black one' couldn't have bought a condo in Jakarta even though that was once his HOME!

WHITE HOUSE
Trump’s foreign luxury resorts collide with his South Korea diplomacy

As Trump traveled to South Korea, a business deal was expanding between the Trump family business and a company partly owned by the Korean government.

By ANITA KUMAR
07/01/2019 04:31 PM EDT

SEOUL, South Korea — While visiting South Korea over the weekend, President Donald Trump tried to strike a deal with President Moon Jae-in to get more companies to invest in the United States.

But even as he pushed American interests, a partner of Trump’s namesake company is aggressively expanding plans to build luxury Trump-branded resorts in Indonesia — and the project involves a construction company partly owned by the South Korean government.

It’s not clear whether Trump brought up the Indonesia projects during his talks with Moon. But the meeting represented the latest example of the blurred lines between Trump’s official diplomatic work and his business interests.

The expansion of the project that now has the South Korean government attached to it seems to run afoul — at least in spirit — of Trump’s pledge that the Trump Organization will not enter into any new foreign deals while in office.

The project in question got more complicated, ethics-wise, when the developer of a Trump luxury resort signed a previously unreported $120 million contract last September with a construction company — partly owned by the South Korean government — to build a six-star hotel, an 18-hole golf course and theme park that has been compared to Disney World. A company statement announcing the contract with Posco said financing would come from KEB Bank and IBK Securities, a state-owned bank of Korea.

The developer, MNC Land, inked an agreement with Posco E&C Indonesia to build what is being billed as “Trump Community” in Lido City, Indonesia. Posco also expects to build a second Trump resort in Bali, Indonesia, a company official said in a previously reported statement.

“In addition to the new town development project in Lido, we expect to receive orders for the Bali Trump Resort Project,” a Posco E&C official said in the statement.

https://www.politico.com/story/2019/07/01/trump-resort-south-korea-government-1390736