This agreement was reached during a bilateral meeting between Indonesian President Joko Widodo and South Korean President Yoon Suk Yeol in Jakarta on Friday.
"Regarding cooperation with South Korea, the two presidents agreed to carry out infrastructure collaboration and hoped the construction work of MRT Phase 4 can begin in 2024," Indonesian Foreign Minister Retno Marsudi, who accompanied President Jokowi at the bilateral meeting, stated at the Merdeka Palace.
She noted that based on the results of the meeting, the two leaders were optimistic about increasing the investment value since Indonesia and South Korea had held a high-level investment dialogue, especially in the electric vehicle ecosystem, which was one of the priorities.
President Jokowi also welcomed the LG consortium and partners in Indonesia to realize a grand investment package worth US$9.8 billion and the construction of a cathode factory in Batam involving state-owned enterprises (SOEs) and regional entrepreneurs, the minister stated.
Minister Marsudi noted that the head of state also invited the participation of the Bank of Korea for cooperation in supporting the electric vehicle (EV) ecosystem.
"The president also appreciates the South Korean government for developing IKN as a smart city," she noted.
Apart from smart city development, South Korea's support for IKN development is also expected to include new sectors in the field of human resource development and bureaucratic digitalization to accelerate bureaucratic transformation, she remarked.
The South Korean Government also agreed to develop the medical tourism industry in Bali, Marsudi remarked.
Moreover, the minister noted that President Jokowi drew attention to greater market access for agricultural products as well as increased capacity in technology to help Indonesian agricultural and fishery products meet South Korean standards.
Lastly, President Jokowi also commended the increase in the quota of Indonesian migrant workers (PMIs) to South Korea, she remarked.
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Translator: Mentari Dwi G, Resinta S
Editor: Rahmad Nasution
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