Seoul: President Lee Jae Myung has called on Indonesian President Prabowo Subianto to bolster cooperation regarding resource supply chains, as reported by Cheong Wa Dae. This request comes amidst escalating concerns over oil and gas supply disruptions due to the ongoing conflict in the Middle East.
According to Yonhap News Agency, during summit discussions on Prabowo's three-day state visit, Lee expressed that the prolonged conflict in the Middle East is expected to significantly impact energy supplies for both South Korea and Indonesia. He underscored the necessity for both nations to enhance collaboration on resource security to mitigate the crisis's repercussions. Lee commended Indonesia's vital role in providing key energy resources, including liquefied natural gas (LNG) and coal, to South Korea. He also noted the strong cooperation between the two countries in the defense sector and recognized Indonesia as a key investment location for Korean enterprises.
Lee highlighted Indonesia as the first international destination for Korean companies and emphasized its current value as a partner in the Korean defense industry. South Korea is set to finalize a deal to export 16 KF-21 jets to Indonesia, a joint development initiative, marking the first international sale of its indigenous fighter jets.
Lee also acknowledged the involvement of Korean firms in Indonesia's electric vehicle production and expressed optimism about expanding cooperation in future advanced industry projects. Prabowo, in turn, stressed the significance of bilateral relations amid global uncertainties, expressing confidence that both countries will support each other as partners with aligned interests. He pointed out that South Korea's advanced manufacturing and technological capabilities could complement Indonesia's rich resources and market, while also highlighting the necessity to reinforce collaboration in security and the defense sector.
During the summit, both countries signed 10 memorandums of understanding (MOUs) to strengthen economic ties and enhance cooperation in vital areas such as critical minerals, advanced technologies, AI-based healthcare, and intellectual property rights. Additional agreements were made to extend cooperation in renewable energy, nuclear energy, and the joint development of carbon capture and storage technologies.
Furthermore, the Export-Import Bank of Korea and Indonesia's sovereign wealth fund, Danantara Investment Management, agreed to collaborate on financing Korean companies entering promising sectors within Indonesia, including critical minerals, data centers, and renewable energy. In their second meeting following discussions at the APEC summit in South Korea in November, Lee plans to bestow the Grand Order of Mugunghwa, South Korea's highest honor, on Prabowo. This recognition is for his efforts in fortifying bilateral ties and supporting Korean businesses in Indonesia, as stated by presidential spokesperson Kang Yu-jung.
Lee also intends to gift Prabowo a traditional Korean bow set and a martial arts book from the Joseon Dynasty, reflecting the Indonesian president's keen interest in martial arts, shaped by his experience as a former Army general and defense minister.