JAKARTA - Special Staff to the Minister of Energy and Mineral Resources for the Acceleration of Industrial Development in the ESDM sector Agus Tjahajana Wirakusumah invites South Korean entrepreneurs to work on downstream investment opportunities in Indonesia following their abundant potential.
"Indonesia has great mineral potential, which has an important role in economic growth. We invite entrepreneurs to participate in efforts to increase added value for future development, such as batteries and storage," he said in Indonesia-Korea Future Industry Business Plaza 2022, quoted by Antara, Wednesday 28 September.
Agus said that Indonesia and South Korea had established cooperation in the energy and minerals that had been signed in 2002.
The two countries have various potential collaborations in the field of electricity, new and renewable energy, and minerals. One of the agreed cooperations is the pilot charging system to support the development of the electric vehicle ecosystem in Indonesia.
Indonesia, Agus continued, has also collaborated to work on the development of critical minerals (critical minerals), in particular exchanging information on critical mineral resource management.
On the same occasion, the President of Southeast Asia-Oceania Head Office of KOTRA Jongseob Lee hopes that the relationship between South Korea and Indonesia as the only G20 member in Southeast Asia can continue to be closely established and develop.
Lee assessed that ahead of 50 years of Indonesia-Korea relations, the trade value of the two countries has increased up to 100 times. All of that, he said, could be achieved with mutual benefits of trade and investment.
"Towards 50 years of Indonesia-Korea, economic cooperation between the two countries will open up new pages," he said.
Meanwhile, Director General of KOTRA Jakarta Jang-hee Lee said that his party played a role as a bridge for South Korean companies and Indonesian companies to establish economic cooperation, especially in the fields of exports, imports, and investments.
"Korea Selatan akan melanjutkan kolaborasi yang melibatkan industri dengan teknologi tinggi seperti kendaraan listrik dan baterai sedifikan sebagai bagian dari Environmental Social Governance (ESG) untuk mendukung kebijakan keberlanjutan Indonesia," kata Lee.
Indonesia is an important partner for South Korea, especially in the ASEAN region. The trade value between South Korea and Indonesia was recorded at 15.3 billion US dollars from January to July 2022. This figure grew 49.3 percent compared to the same period in 2021, which was 10.2 billion US dollars.
This achievement made Indonesia an ASEAN country as a partner with the second-largest trade value with South Korea.
The main commodities traded by the two countries are mineral fuel, mineral oil and products; machinery and electrical equipment; and steel; ore, terak, and ash; and plastic.
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