South Korea and Indonesia recently discussed ways to enhance bilateral cooperation on electric vehicles, batteries and supply chains of significant industry minerals.
According to the Ministry of Trade, Industry and Energy, the consensus was reached during the bilateral economic cooperation committee meeting in Seoul, led by Deputy Trade Minister Jeong Dae-jin and Indonesia’s Deputy Economic Minister, Edi Prio Pambudi. It further informed that the recent meeting was a follow-up to rounds of recent summit talks between South Korean President Yoon Suk Yeol and his Indonesian counterpart, Joko Widodo, who reached an agreement to enhance cooperation in high-tech industries, infrastructure and defense, among other sectors.
In the recent meeting, the two nations agreed to expand their investment in the production of EVs and batteries and to collaborate to tap the Southeast Asian and global markets. Further, they planned to work more closely on supply chains of key minerals, such as nickel, as Indonesia is rich in such natural resources. To reach the zero-emission goals, the two sides have planned to push for joint projects to cut emissions and to build facilities for green hydrogen and solar power production.
“As key economic partners, South Korea and Indonesia have maintained a solid economic relationship for the past 50 years. Now is time to further the ties by enhancing cooperation on broader issues, such as climate change and supply chains,” said the statement.
Seoul and Jakarta mark the 50th anniversary of the establishment of their diplomatic relations this year.