ROK,Indonesia sign MOU to build EV industry

In a pivotal summit held on Friday, South Korean President Yoon Suk Yeol and Indonesian President Joko Widodo forged a dynamic alliance to expedite the development of Indonesia's burgeoning electric vehicle and battery industry, which is swiftly evolving into a central hub within the Association of Southeast Asian Nations (ASEAN). This collaboration is perceived as a cornerstone in cementing a "special strategic partnership," laying a robust foundation for a harmonious future, anticipated to flourish over the next 50 years. Both nations are keen on bolstering infrastructural advancements, notably the initiation of carbon-neutral water purification facilities and an extensive network of tunnels and sewerage systems, critical components in the master plan for relocating Indonesia's capital city.

During his state visit to Jakarta, where he was attending the ASEAN-related summit, President Yoon, in a significant move, signed six comprehensive Memorandums of Understanding (MOUs) at the Presidential Palace with President Widodo. These MOUs encapsulate the shared vision of fostering a sustainable electric vehicle ecosystem, highlighting the commitment to nurturing a green economy.

The leaders further cemented their commitment to bolstering the "Korea-Indonesia e-Mobility Cooperation Center," a pioneering initiative slated for inauguration by year's end. This center promises to be a powerhouse fostering collaboration across four vital domains - infrastructure development, workforces, research & development (R&D), and systemic enhancements. An official from the presidential office explained that “One of Indonesia's largest goals in the economy is to achieve 'carbon-neutral' status, envisioning to become Asia's preeminent hub for electric vehicles,” adding "Korea, armed with advanced electric vehicle and battery technology, pledges to help them to build the establishment of an extensive infrastructure network, encompassing state-of-the-art manufacturing units to cutting-edge electric vehicle charging stations, to a framework for substantial subsidies." On the same day, both leaders concurred on a collaborative financial strategy to share an impressive fund of 8.1 trillion won for the successful fruition of the KF-21 project (designated as IF-X in Indonesia), a venture aimed at the collaborative design and production of next-generation fighter jets.

In a follow-up diplomatic maneuver, President Yoon is scheduled to travel to New Delhi, India, marking his consecutive second year of participation in the prestigious G20 summit. Capitalizing on the progressive strides achieved in establishing a fortified security collaboration during the tripartite Camp David summit involving the U.S. and Japan, President Yoon is poised to advocate for a stringent international stance against impending threats emanating from North Korea and Russia, specifically focusing on curbing 'arms trade' and neutralizing the nuclear missile threats posed by the North.


Joo-Young Jeon aimhigh@donga.com