Top Salesperson No.1 Yoon Secures 16 Contracts from Nuclear Power to Minerals

Meeting Indonesian Entrepreneurs to Expand Cooperation on Small Modular Reactors
Promise of Korean Support in Culture, Startups, and More for Future Generations

President Yoon Suk-yeol met with Indonesian businesspeople and secured memorandums of understanding (MOUs) and 16 detailed contracts across various fields including nuclear power and critical minerals. President Yoon told them, "We must comprehensively expand economic cooperation between our two countries, from trade and investment to advanced industries," and promised, "We will actively support the smooth progress of projects being pursued by companies from both countries."

On the afternoon of the 7th (local time), President Yoon attended the Korea-Indonesia Business Roundtable held at a hotel in Jakarta, Indonesia, where he evaluated the achievements of economic cooperation between the two countries and presented a partnership development strategy for the next 50 years. The 'Business Roundtable' is a key economic cooperation event that President Yoon, who calls himself "Korea's first top salesperson," attends with major domestic and international companies during his overseas visits.

President Yoon Suk-yeol, visiting Indonesia, is delivering a congratulatory speech at the Korea-Indonesia Business Roundtable held at a hotel in Jakarta on the 7th (local time).
[Photo by Yonhap News]

This time as well, President Yoon, along with 19 business leaders including Chung Eui-sun, Chairman of Hyundai Motor Company; Koo Kwang-mo, Chairman of LG; Shin Dong-bin, Chairman of Lotte; and Koo Ja-eun, Chairman of LS, signed MOUs and contracts in fields such as critical minerals, nuclear power, mobility, new city construction, healthcare, and power.

In the nuclear power sector, an MOU was signed between the Korea Nuclear Export Industry Association and the Indonesian Nuclear Association for information exchange and human resource development cooperation, including small modular reactors (SMRs). Indonesia plans to build commercial nuclear power plants by 2039 and has maintained a close relationship with Korea on the topic of SMRs. The SMR cooperation plan discussed at the Korea-Indonesia summit held during the G7 summit in Hiroshima, Japan, in May has now materialized into a practical agreement.

In the critical minerals sector, an MOU was signed to establish a joint research center for critical minerals between the Korea Institute of Geoscience and Mineral Resources and Bandung Institute of Technology, and a memorandum of agreement (MOA) was signed to strengthen cooperation in supply chains and corporate investment promotion between the Korea Mining and Resources Corporation and the Indonesian Nickel Association. Indonesia is a country rich in deposits of critical minerals such as nickel, and the Korean government classifies it as a very important hub from a supply chain perspective.

Additionally, contracts were concluded in areas including ▲integrated parking solutions ▲establishment of electric two-wheeler production bases ▲strengthening cooperation to promote supply chains and corporate investment ▲white bio (biodegradable materials) in resource recycling ▲emission reduction and eco-friendly plant conversion ▲joint development of green ammonia supply chains ▲carbon capture and storage (CCS) projects utilizing marine abandoned mines ▲power equipment business ▲workforce development in foundational industries ▲construction machinery business ▲ASEAN fashion distribution market expansion ▲joint venture for transformer manufacturing ▲entrusted operation of Ngurah Hospital ▲ASEAN problem research cooperation.

It is also notable that President Yoon expanded and designated economic cooperation fields to include education and startups for future generations. President Yoon stated, "Starting with culture, the governments of both countries will strive to promote active exchanges among future and youth generations in various fields such as education, industry, and startups." Indonesia is recognized as the most populous country in the Association of Southeast Asian Nations (ASEAN) and has the largest domestic market, which is interpreted as a strong commitment to expanding economic cooperation. Furthermore, President Yoon promised full support for foreign youth, saying, "When you come to Korea to do business, the Korean government is not here to collect taxes or earn profits. Your spirit of challenge and creativity will further develop Korea."

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