"Stabilizing Supply Chains for Minerals... Building Strategic Alliances in Advanced Industries like Electric Vehicles and Batteries"
Revised MOU on Cooperation for Indonesia's Capital Relocation... Defense and Military Collaboration
Deepening International Cooperation on North Korea's Nuclear and Missile Issues
[Asia Economy Reporter Ki-min Lee] On the 28th, President Yoon Suk-yeol stated, "We have decided to further strengthen strategic-level cooperation between the two countries (Korea and Indonesia) in line with the international situation," adding, "We will enhance practical cooperation between the two countries, encompassing supply chains and economic security."
President Yoon made these remarks during a joint press announcement following a summit meeting with Indonesian President Joko Widodo at the Yongsan Presidential Office on the 28th.
President Yoon explained the background for strengthening cooperation, saying, "Since establishing diplomatic relations in 1973, Korea and Indonesia have achieved remarkable progress in the fields of economy, trade, culture, human exchange, and diplomatic security," and "Indonesia is a leading country in ASEAN and the only Southeast Asian nation to have a 'Special Strategic Partnership' with us."
He conveyed that the new government plans to strengthen communication with Indonesia, a key ASEAN country, for diplomacy toward ASEAN and for peace and shared prosperity in the Indo-Pacific region. Regarding this, President Yoon mentioned, "Based on firm support for ASEAN centrality, we will harmonize our Indo-Pacific strategy with ASEAN’s perspectives," adding, "To this end, the two countries will continue to maintain close communication."
President Yoon also explained that they agreed to further enhance practical cooperation between the two countries, including supply chains and economic security. He said, "Indonesia is a country very rich in critical minerals such as nickel, which are important materials for our advanced industries," and "President Joko Widodo and I have agreed to build a strategic alliance in advanced industries such as electric vehicles and batteries by strengthening economic security cooperation between the two countries, including stabilizing the supply chain of critical minerals."
He continued, "Within the recently launched Indo-Pacific Economic Framework (IPEF), the two countries will closely cooperate on common interests," emphasizing, "We also share the recognition that the early implementation of the Korea-Indonesia Comprehensive Economic Partnership Agreement (CEPA) and the Regional Comprehensive Economic Partnership (RCEP) will contribute to expanding practical cooperation between the two countries." He also requested special attention and support for Korean companies investing in Indonesia.
Regarding Indonesia’s capital relocation project, President Yoon promised close cooperation, stating, "Korea’s experience in constructing Sejong City will serve as a good reference for Indonesia." He added, "Through today’s summit, the two countries revised the Memorandum of Understanding (MOU) on capital relocation cooperation," and "We have laid the groundwork for our companies to actively contribute to infrastructure, e-government, and smart city development in Indonesia’s new capital."
On defense and defense industry cooperation, President Yoon said, "We jointly celebrated the successful first test flight of the KF-21, the next-generation fighter jointly developed by the two countries," and emphasized, "We reaffirmed our commitment to continue cooperating so that the next-generation fighter joint development project proceeds smoothly until completion."
The two leaders also agreed to deepen cooperation on major international issues. President Yoon stated, "Indonesia is the only G20 member in Southeast Asia and the chair country this year. Our government actively supports Indonesia’s G20 chairmanship activities," and "We look forward to attending the G20 summit in November this year and will actively cooperate to ensure a successful meeting."
Furthermore, he emphasized, "We share concerns about North Korea’s nuclear and missile threats and will work together for a united international response," adding, "We will closely cooperate to resolve the Ukraine crisis and the international food and energy crises, and continue to support Myanmar’s restoration of democracy and the resolution of its humanitarian crisis."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
