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| President Yoon Suk Yeol, center in front row, poses with Korean and Indonesian business leaders, including Hyundai Motor Group Executive Chair Euisun Chung, fourth from left in front row, during a business roundtable in Jakarta, Sept. 7. Yonhap |
Korea and Indonesia signed two initial agreements Friday on stronger bilateral cooperation on electric vehicles and such future industries as biotechnology and renewable energy, Seoul's industry ministry said.
Korea's Ministry of Trade, Industry and Energy and Indonesia's economic ministry signed a memorandum of understanding that calls for strengthening bilateral cooperation on electric-powered vehicles, including EVs and hydrogen vehicles, in terms of infrastructure, research and development, talent cultivation and policy measures.
They also agreed to better support the Korea-Indonesia e-mobility cooperation center set to open later this year in Jakarta.
The center was built by the Korean government as part of its official development assistance program with a budget of 18 billion won ($13.49 million), according to the ministry.
"Indonesia is the No. 1 market in the ASEAN region, and it has rich minerals necessary for the auto and battery industries," the ministry said in a release.
In a separate agreement, the two ministries agreed to make joint efforts to nurture such future industries as biotechnology, renewable energy and the digital economy by promoting technology and personnel exchanges and investment.
The signing ceremony took place in Jakarta, with President Yoon Suk Yeol in the Southeast Asian country for an East Asia Summit.
On Thursday, Korea and Indonesia signed 14 initial agreements and two contracts meant to boost bilateral cooperation on nuclear power generation, mobility, major minerals and various other industries. (Yonhap)
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