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| ▲ South Korean Industry and Trade Minister Moon Sung-wook (L) and Indonesian Energy and Mineral Resources Minister Arifin Tasrif (R) pose for a photo after signing a memorandum of understanding on cooperation of critical materials at the latter's office in Jakarta on Feb. 21, 2022, in this photo provided by the ministry. (PHOTO NOT FOR SALE) (Yonhap) |
S Korea-Indonesia-industry ties
S. Korea, Indonesia agree to cooperate in supply chains of minerals, electric cars
SEOUL, Feb. 22 (Yonhap) -- South Korea and Indonesia agreed Tuesday to boost bilateral cooperation in supply chains of key minerals and the electric car sector, Seoul's industry ministry said.
The two sides signed a total of five memorandums of understandings (MOUs) on those subjects during an economic cooperation committee meeting held in Jakarta earlier in the day.
The meeting was co-chaired by South Korea's Industry Minister Moon Sung-wook and Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto.
According to the ministry, the MOU on key minerals calls for sharing information between the two ministries and supporting joint related projects so as to help ensure the countries' stable supplies of major industry items.
The two sides also vowed to work closely on electric vehicles and their charging infrastructure in the three of the five agreements. Moon asked for Indonesia's continued support for better business environments in the EV sector for foreign investors, according to the ministry.
They also agreed to make joint efforts to boost bilateral trade and investment in their free economic zones, it added.
"Moon expressed gratitude for Indonesia's cooperation on the urea solution supply last year, and proposed enhanced bilateral ties to help resolve global supply chain disruptions. Indonesia vowed active cooperation with South Korea," the ministry said in a release.
South Korea had experienced a supply shortage of urea solution, a key fluid needed in diesel cars to cut emissions, after China imposed export curbs on urea in October to ease domestic supply bottlenecks.
During his three-day stay in Indonesia that began Sunday, Moon also held talks with Indonesia's energy minister and the maritime investment chief to explore ways of cooperation in the new renewable energy fields for their zero-emission goals, according to the ministry.
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