Hanoi (VNA) – The Republic of Korea (RoK) and Indonesia on May 26 agreed to expand economic ties to overcome challenges from the new coronavirus pandemic and seek green growth.

RoK Industry Minister Moon Sung-wook met his Indonesian counterpart, Luhut Binsar Pandjaitan, in Seoul to discuss a wide array of bilateral economic issues.

During the meeting, Seoul and Jakarta vowed to jointly make efforts in rolling out the so-called Green New Deal policies, which center on seeking more sustainable development and reducing the emission of greenhouse gases.

The two countries agreed to speed up a process to fully implement the Comprehensive Economic Partnership Agreement (CEPA), an equivalent of a free trade agreement, which was signed last December.

Seoul and Jakarta are both awaiting parliamentary approval.

Moon also requested Indonesia continue offering support to RoK’s businesses based in the Southeast Asian country.

The two ministers shared ideas on improving the business environment for various industries, including automobiles, rechargeable batteries and textiles.

A day earlier, the two nations also signed a Memorandum of Understanding (MoU) to accelerate e-Government, or an electronic-based government system (SPBE) through the Digital Government Cooperation Centre (DGCC).

With the help from the RoK, Indonesia will focus on accelerating the implementation of the SPBE Plan Map, Architecture and Management, Technology 4.0 and Digital Talent Development.

On May 24, Indonesian Investment Minister Bahlil Lahadalia announced that State-owned Indonesia Battery Corporation (IBC) and RoK-based LG Corporation will cooperate to build a 1.2-billion-USD battery plant in Bekasi city, on the eastern border of the capital Jakarta.

In the first phase, the plant will have a production capacity of 10 GWh, which will later be used for EVs from Hyundai, he said./.