By Reporter Lee jon young

Korea's Trade, Industry and Energy Ministry’s Deputy Trade Minister Jeong Dae-jin led the Korean delegation in meeting with his counterpart Edi Prio Pambudi, the Deputy Minister for Coordination of International Economic Cooperation of Indonesia, on July 24 at the Lotte Hotel Seoul to hold the 2nd Korea-Indonesia Economic Cooperation Committee Meeting and discussed measures to bolster bilateral economic cooperation.

In their opening messages, both delegation heads noted the importance of the two countries’ half-century long economic partnership in the Indo-Pacific region and agreed that it is time for Korea and Indonesia to seek new cooperation measures for the next half-century in areas like supply chain and climate change response.

The delegations agreed to continue joint investment in the production of electric vehicles (EVs) and batteries in Indonesia, and to expand investment in strengthening the supply chain for nickel and critical minerals for batteries. 

They also reached an agreement to extend the scope of cooperation to resource circulation investment for battery recycling and the establishment of a plant for manufacturing electric powertrains for two-wheelers in view of Indonesia’s highly promising electric two-wheeler market.

Both sides also agreed to deepen collaboration in efforts to reach carbon neutrality through international joint projects for GHG reduction, green hydrogen production and establishment of solar power generation facilities. 

Moreover, they agreed to cooperate in official development assistance (ODA) projects in industrial, energy and standardization areas, including the training of “Ppuri (root)” industry personnel, EV charging station management and enhancing the service capability of legal metrology.