Korea and Indonesia joined forces in Jakarta, sealing 16 deals during a business round table. The agreements spanned various sectors, including advanced tech and vital minerals.

The meeting, held at a Jakarta hotel and attended by 40 business leaders from both nations, saw Korean President Yoon Suk Yeol participating as well.

The two countries pledged cooperation on small modular reactor development, data exchange, and nurturing talent in this field. 

Kakao Mobility and Soul Parking signed an MOU for comprehensive mobility services, including parking facilities.

Both countries also agreed to establish research centers focusing on core minerals, creating a supply chain linking Indonesian minerals with Korea’s electric vehicle (EV) battery industry.

Indonesia boasts the world’s largest nickel reserves and the second-largest cobalt reserves. 

Doosan Enerbility plans to transition Indonesia’s Suralaya plant into eco-friendly facilities and collaborate on a green ammonia supply chain with a coal power plant company.

LS Electric entered a joint venture with Symphos in Indonesia to manufacture transformers and signed an MOU with AG Group for a joint electric power equipment business.

Hyundai Motor, particularly interested in Indonesia’s growing auto market, leads the nation’s EV market. The company established its first Southeast Asian manufacturing facility last year and is building a joint battery factory with LG Energy Solution, targeting production commencement next year.

LG Electronics has been producing TVs,

refrigerators, washing machines, and air conditioners in Indonesia since 1990. Lotte operates 50 retail outlets in the country.