Chairman Koo Kwang-mo and Lotte Group Chairman Shing Dong-bin also attended the event. Leaders of big businesses from Korea including Hyundai Motor Group Chair Euisun Chung and LG Corp. Korea’s LS Electric signed a joint venture with Indonesia’s Symphos to manufacture transformers, and inked an MOU with AG Group to roll out electric power equipment business together. It will also work with a coal power plant company to codevelop a roadmap to build a supply chain for green ammonia. Doosan Enerbility will cooperate on shifting Indonesia’s Suralaya plant to eco-friendly facilities. Indonesia has the world’s largest nickel reserves, and the second-largest for cobalt.
The two countries also agreed to jointly establish research centers focusing on core minerals in order to build a supply chain between Indonesian minerals and Korea’s electric vehicle (EV) battery business. Korea’s Kakao Mobility and Indonesia’s Soulparking signed a memorandum of understanding (MOU) to cooperate on offering comprehensive mobility services, including parking lots. The two countries agreed to cooperate on developing small modular reactors by trading related data and fostering talent in the field. Korean President Yoon Suk Yeol, who is visiting the Southeast Asian country for the Asean summit, also participated in the business event. The round table, held at a hotel in Jakarta, Indonesia on Thursday evening, was attended by some 40 business leaders from both countries. The deals were made in areas of small modular reactors, mobility, minerals and clean energy, among others. descends on Indonesia as business ties blossom
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