New Agreements To Boost Bilateral Cooperation With Indonesia

The Indonesian and South Korean governments have signed a series of agreements to bolster economic cooperation, reports the Yonhap news agency (Seoul).

Six of the 10 memorandums of understanding (MOUs) focused on initiating bilateral dialogue on supply chain, digital development, maritime transportation, “green growth,” infrastructure and small business development.

Another four focused on private/public partnerships, including cooperation between Hyundai Motors and the Indonesian government regarding the relocation of the capital from Jakarta; an MOU between South Korea’s LG CNS and the Nusantara Capital City Authority for smart city development; and an MOU between the South Korean mine and mineral association and an Indonesian nickel association for enhanced mineral supply chain cooperation, according to the South Korean Industry Ministry.

The signing ceremony took place during a business summit in Bali on the sidelines of the G20 summit that was attended by over 40 government and corporate officials.