Forum Held to Expand Cooperation with Indonesia Undergoing Digital and Green Transition in Martial Arts Sector

'Han-Inni Future Industry Cooperation Forum' Held in Jakarta

The Korea International Trade Association (KITA) held the '2023 Korea-Indonesia (Inni) Future Industry Cooperation Forum' on the 15th in Jakarta, Indonesia, chaired by KITA Vice Chairman Jeong Manki, with over 80 businesspeople from both countries in attendance. This event was organized to exchange opinions on the current status and future cooperation plans in startups, critical minerals, e-mobility and secondary batteries, and smart city industries between the two countries.

At the forum, business and government representatives from both countries participated as speakers to present cooperation plans on ▲ startups leading new growth ▲ utilization of critical mineral resources ▲ the new capital relocation project aimed at a smart city ▲ and the establishment of Indonesia's electric vehicle ecosystem.

In his opening remarks, Vice Chairman Jeong said, "Korea and Indonesia have achieved tariff elimination through three free trade agreements (FTAs), but non-tariff barriers still exist," adding, "These must be resolved to increase trade between the two countries." He also proposed expanding human exchanges, stating, "Korean companies can contribute to Indonesia's digital transformation, green transition, and modernization of fresh agricultural product storage and distribution sectors. Indonesia's human resources may also be needed in domestic industries facing labor shortages."

The '2023 Korea-Indonesia Future Industry Cooperation Forum' hosted by the Korea International Trade Association on the 15th in Jakarta, Indonesia is in progress / [Photo by Korea International Trade Association]

Jerry Sambuaga, Deputy Minister of Trade of Indonesia, said in his congratulatory speech, "Last year, Korea-Indonesia trade increased by 33.1% and investment by 15.7% compared to the previous year," emphasizing the growing importance as economic partners. He continued, "We request cooperation from Korean companies in establishing a Warehouse Receipt System for farmers in underdeveloped regions of Indonesia and a digital payment system using QR codes."

Indonesia plans to utilize its abundant mineral resources to build a value chain across the entire electric vehicle ecosystem. Local officials explained that the scope of cooperation between the two countries is extensive, covering not only electric vehicle battery components but also mineral refining and mining sectors.

Regarding the construction of Nusantara, the new capital, increased participation of Korean companies is also anticipated. Mohamed Ali Brawi, Deputy Minister of the Indonesian New Capital Authority, said, "We are closely cooperating with Korean companies such as LG and Hyundai in areas related to smartification and UAM transportation system construction," adding, "We hope for participation and cooperation in more fields going forward."

Meanwhile, just before the forum, Vice Chairman Jeong visited the Indonesian New Capital Authority, which oversees the local new capital relocation development project. In a meeting with Deputy Minister Mohamed Ali, he emphasized, "Korean companies have great strengths in green energy and smart city development, which are the Indonesian government's goals related to the new capital development," and added, "If information on guaranteed returns for a certain period and investment benefits is provided, high-quality investments can increase."

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