Diplomacy Journal David Kendall  |  On the morning of January 19, Deputy Chief of Mission at the Indonesian Embassy Ali Andika Wardhana gave opening remarks for the “2026 Indonesian Day Business Forum.” The event was held in the Conrad Seoul Hotel in the Yeouido financial district and was sponsored by Korea’s KB Bank; PT Suryacipta Swadaya, a major Indonesian development company; PT Bank KB Indonesia Tbk; and the Embassy of the Republic of Indonesia.

The forum brought together Indonesian government representatives, businesses, and investors to explore trade, investment opportunities, and cross-border collaboration between the two countries.

In his statement, Deputy Chief Wardhana pointed out that “Korean companies are active across the value chain. From downstream industries, to advanced manufacturing.” He cited how the two nations complement each other particularly well regarding electric vehicles, calling Indonesia “a natural hub for EV batteries.”

Deputy Chief Wardhana noted that Indonesia holds the world’s largest nickel reserves, and Korea is a leader in electric vehicle production. He added that Indonesia offers scale, resources, and market growth with a large, young, and vibrant population at the center of ASEAN. For its part, “Korea has strong expertise in technology, manufacturing, and innovation.”  

Direct investments have been flowing into Indonesia. Between 2020 and 2025, South Korea recorded $13.3 billion in realized investment in Indonesia, according to KB. The consistent inflow reflects ongoing investor confidence in Indonesia’s economic fundamentals and long-term growth prospects. Korea is Indonesia’s seventh largest investor and eighth largest trading partner as reported by KB. It imports energy resources, EV-related materials, and other critical goods, as well as such consumer products as furniture, coffee, and spices.

Lee Jong Min, Chief of KB Kookmin Bank’s Global Business Group, pledged that PT Bank KB Indonesia Tbk would serve as the “most trusted financial partner” for business clients, starting at the moment they establish a presence in Indonesia. In line with this, KB Financial Group reaffirmed its commitment to Indonesia as one of its core strategic markets.

Deputy Chief Wardhana also emphasized the commitment of the Indonesian Mission in Korea to explore business opportunities that drive economic growth and prosperity for both countries.

The forum concluded with a networking session and one-on-one discussions, allowing participants to further explore business opportunities and potential partnerships.

Besides Deputy Chief Wardhana and KB Bank Global Business Group Chief Lee, participants included Hwang In-chul, Executive Vice President of Wholesale, KB Kookmin Bank; Eric Alamsjah Winarta, Director PT Suryacipta Swadaya; Kunardy Darma Lie, President Director of KB Bank Indonesia; and representatives from a broad range of industries, including healthcare, waste management, technology, logistics, cosmeceuticals, and EVs.