KIAT to Build Electric Vehicle Infrastructure in Indonesia... Hyundai Motor Provides Support

MOU Signed Between Indonesian Ministry of Mineral Resources and Electric Vehicle Infrastructure Development

From the left in the photo: Sahid Junaydi, Vice Minister of Energy and Mineral Resources of Indonesia; Seok Young-cheol, President of the Korea Institute for Advancement of Technology; Moon Seung-wook, Minister of Trade, Industry and Energy. [Photo by Korea Institute for Advancement of Technology]

[Asia Economy Sejong=Reporter Lee Jun-hyung] The Korea Institute for Advancement of Technology (KIAT) is set to support Hyundai Motor Company, which has entered the Indonesian market, by establishing local electric vehicle infrastructure.

According to related ministries on the 23rd, KIAT signed a Memorandum of Understanding (MOU) with Indonesia's Ministry of Energy and Mineral Resources (MEMR) the day before to cooperate on building electric vehicle charging infrastructure and will officially begin collaboration to establish an electric vehicle ecosystem. This agreement was made as part of the "Korea-Indonesia Economic Cooperation Committee," jointly chaired by Moon Seung-wook, Minister of Trade, Industry and Energy, and Airlangga Hartarto, Coordinating Minister for Economic Affairs of Indonesia.

Under the agreement, KIAT, together with the Ministry of Trade, Industry and Energy, will invest 19 billion KRW from this year through 2026 to build electric vehicle infrastructure in Indonesia. Specifically, this includes ▲ establishing and operating after-sales service (AS) centers for electric vehicle charging systems and maintenance ▲ training local experts related to electric vehicles and charging stations ▲ improving local electric vehicle industry regulations.

KIAT's initiative to expand electric vehicle infrastructure in Indonesia aims to support Hyundai Motor Company, which has entered the local market. Hyundai has selected Indonesia, the largest automotive market in Southeast Asia, as a forward base to aggressively target the ASEAN market. Hyundai plans to complete the construction of an electric vehicle production line at its local factory and begin mass production of the Ioniq 5 by next month. Once completed, this production line will become Indonesia's first electric vehicle factory.

Following the agreement, KIAT's local official development assistance (ODA) projects are also expected to accelerate. KIAT planned to start an ODA project this year in Indonesia to "establish a solar-powered charging electric vehicle system for greenhouse gas reduction." KIAT anticipates that this will not only activate Indonesia's electric vehicle industry but also contribute to reducing greenhouse gas emissions.

Seok Young-chul, President of KIAT, stated, "By jointly creating an electric vehicle ecosystem, the two countries will greatly assist our companies' entry into the ASEAN electric vehicle market."

This content was produced with the assistance of AI translation services.