South Korea and Indonesia have agreed to bolster their bilateral cooperation in the electric vehicles (EVs) and battery technology sectors and supply chain management for critical industrial minerals. This commitment was made during a bilateral economic cooperation committee meeting on Monday, reflecting an extension of recent high-level talks aimed at strengthening partnerships across various sectors, including high-tech industries, infrastructure and defense. The countries also expressed their joint ambition to expand investment in EV and battery production, targeting Southeast Asian and global markets.

The nations further pledged to enhance collaboration in supply chains for vital minerals, notably nickel, leveraging Indonesia’s significant natural resource wealth. As part of their broader environmental commitments, South Korea and Indonesia plan to jointly advance projects to reduce emissions and construct facilities for green hydrogen and solar power production while fostering cooperation in developing small modular reactors (SMRs). Celebrating 50 years of diplomatic relations this year, both countries acknowledged the need to focus on larger issues, such as climate change and supply chain management, to elevate their robust economic relationship. The bilateral trade between the two countries reached a record high of $24.5 billion last year.