ASEAN's Largest Domestic Car Market 'Inni' to Expand Cooperation in Building Electric Vehicle Ecosystem
Korea-Indonesia Sign Two MOUs on Electric Vehicle Ecosystem and New Industries
The Ministry of Trade, Industry and Energy announced on the 8th that, coinciding with the Korea-Indonesia summit, it signed two intergovernmental memorandums of understanding (MOUs) with the Indonesian government to expand cooperation in creating an electric vehicle (including electric two-wheelers) ecosystem and to foster and collaborate on future industries such as bio and foundational industries.
Indonesia is the largest domestic automobile market in ASEAN and possesses abundant electric vehicle-related minerals such as nickel, making it a promising partner in the future mobility sector where Korean automobile and battery companies are actively entering the local market. Through the 'Electric Vehicle Ecosystem Cooperation MOU' signed with Indonesia's Ministry of Economic Affairs, the two countries plan to significantly expand cooperation in four key areas: ▲infrastructure expansion ▲human resource development ▲international joint research ▲policies and systems. Additionally, the 'Korea-Indonesia Mobility Cooperation Center,' scheduled to open in Jakarta by the end of this year, is expected to serve as an advanced base to effectively carry out detailed cooperative projects.
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Furthermore, based on the strong economic cooperation relationship over the 50 years since diplomatic relations were established, Korea and Indonesia have agreed to promote cooperation to foster future industries such as bio, foundational, green, and digital economies to grow together for the next 50 years. To this end, in connection with policies to strengthen Indonesia's manufacturing competitiveness, cooperation will be expanded in areas such as foundational industry workforce development, industrial policy and technology development, and investment promotion.
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