Seoul (VNA) – Indonesian President Prabowo Subianto and his Korean counterpart Lee Jae Myung agreed to deepen energy cooperation and strengthen resource supply chains during a summit in Seoul on April 1, as growing instability in the Middle East raises concerns over global oil and gas supplies.
In the meeting, Lee noted that the prolonged conflict in the Middle East could raise serious concerns about its significant impact on energy supplies for both nations, proposing the two sides expand cooperation on resource security to mitigate the impact of this crisis.
Lee stressed Indonesia’s role as a key supplier of vital energy resources such as liquefied natural gas (LNG) and coal to the Republic of Korea (RoK), as well as the close cooperation between the two countries in the defence industry. He also noted that Indonesia was the first overseas destination for Korean companies and remains an important partner in its defence sector.
The RoK plans to sign plans to sign a deal to export 16 KF-21 jets to Indonesia under a joint development programme between the two countries, which will mark the country's first overseas sale of indigenous fighter jets, he said.
In addition, the RoK companies are actively involved in Indonesia’s electric vehicle manufacturing market. Lee expressed hope for expanding cooperation in future projects across advanced industries.
During the talks, Prabowo highlighted the importance of bilateral ties amid growing global instability, expressing hope that Indonesia and the RoK will complement each other as partners with shared interests.
The Indonesian President noted that the RoK’s advanced manufacturing capacity and technology align well with Indonesia’s abundant resources and market, while underscoring the need to strengthen cooperation in security and the defense industry.
The two sides signed 10 memoranda of understanding (MoUs) to strengthen economic ties and expand cooperation in key areas such as critical minerals, advanced technology, AI-based healthcare, and intellectual property, along with other sectors. Additional agreements focused on renewable energy, nuclear power, and joint development of carbon capture and storage technologies.
In addition, the Export-Import Bank of Korea and Danantara Investment Management – a national investment fund of Indonesia – agreed on financial cooperation to support Korean firms in entering the Indonesian market in promising sectors, including critical minerals, data centres, and renewable energy.
Prabowo is on a three-day state visit to the RoK starting March 31./.
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