RI And South Korea Agree To Strengthen Economic Cooperation, Starting From Electric Cars To MSME Exports

Coordinating Minister for the Economy Airlangga Hartarto (right) when receiving a visit from the Minister of Trade of South Korea in Jakarta (Photo: Doc. Coordinating Ministry for the Economy)

JAKARTA - Indonesia and South Korea (South Korea) have agreed to enhance bilateral relations in the economic and business sectors. This was stated in the first ministerial-level meeting at the Joint Committee Meeting on Economic Cooperation (JCEC) which was held today in Jakarta.

Coordinating Minister for Economic Affairs Airlangga Hartarto said this cooperation was an implementation of the Memorandum of Understanding (MoU) signed in 2018 during President Joko Widodo's visit to South Korea.

"We agreed to build collaborations in various fields as reflected in the four working groups, namely investment and trade, industry, energy and mineral resources, and e-commerce," he said in a press statement, Tuesday, February 22.

According to Airlangga, this commitment also regulates the Indonesia - Korea Business Forum business meeting between Indonesian and South Korean businessmen which was jointly organized by the Indonesian Chamber of Commerce and Industry and Korcham.

Meanwhile, the concrete results of the JCEC forum include the development of electric vehicle charging stations, restoration of mines in Indonesia, cooperation with the ship industry, and the development of the Machine Tools Technical Center technology transfer center at ITB Bandung.

"Furthermore, it was also disclosed that there was investment support from Hyundai, Posco, Lotte Chemical and LX Energy Solution in Indonesia," he said.

Furthermore, Airlangga also hopes to soon realize the development of industrial start-ups, the semi-conductor industry and mini electric cars, access to fruit products, especially mangoes to enter South Korea, as well as cooperation in facilitating MSME exports through e-commerce.

"We will also strive to establish the Indonesia - Korea Center of Excellence for start-up collaboration and cooperation in the telemedicine sector," concluded Coordinating Minister Airlangga.