President Lee Jae-myung emphasized during a summit with Indonesian President Prabowo Subianto on Thursday that he finds it "very reassuring that Indonesia plays a stable role as a major energy supplier." He also highlighted the strong need to expand bilateral cooperation on "stable energy supply and resource security" amid worsening energy supply conditions caused by the war in the Middle East.
At the Korea-Indonesia summit held at Cheongwadae on the occasion of President Prabowo's state visit, President Lee said, "There are serious concerns over the impact the fallout from the Middle East war could have on both countries' energy supply chains as well as the regional economy." He added, "We find it very reassuring that Indonesia plays a stable role as a major energy supplier of liquefied natural gas (LNG) and coal," and stated, "Amid the rapidly shifting international order, cooperation between our two countries, which share values such as democracy, free trade and a rules-based order, will shine even brighter."
President Lee noted that Prabowo's state visit marked "a historic achievement in elevating bilateral ties to a 'Special Comprehensive Strategic Partnership,' the only such designation Korea has granted." He called it "truly meaningful." He continued, "Indonesia was the first overseas investment destination for Korean companies and is a valued partner that helped make K-defense what it is today," adding, "Korean companies have agreed to participate in Indonesia's first electric vehicle production."
President Lee also said, "As the Indonesian proverb goes, 'The first step determines the next step.' Building on our successful cooperation so far, President Prabowo and I intend to create more future projects that will bring greater benefits to the people of both nations." He also expressed "deep condolences over the sacrifice of Indonesian UN peacekeepers in the recent explosion in Lebanon."
President Prabowo responded, "Korea and Indonesia are two countries with a very close relationship, and we wish to further expand this relationship going forward." He said, "We are both Pacific nations, trade-dependent countries, and nations that need good external relations for economic growth." He added, "It is an unfortunate situation where uncertainty is rising globally. That is exactly why the Korea-Indonesia bilateral relationship is all the more important. I believe we must grow this relationship further."
The two countries signed 16 memorandums of understanding (MOUs) to strengthen cooperation. Ten MOUs were signed at a ceremony attended by both leaders, including an "MOU on Special Comprehensive Strategic Dialogue" and an "MOU on Economic Cooperation 2.0" aimed at reactivating the Korea-Indonesia Economic Cooperation Committee, which had been suspended since July 2023.
An "MOU on Critical Minerals Cooperation" was also adopted. Under the agreement, the two countries will cooperate on identifying promising critical mineral projects, geological surveys and exploration, and policy research. Other signed documents included an "MOU on Digital Development Cooperation" establishing a joint ICT cooperation committee, and an "MOU on AI-Based Primary Healthcare and Human Resource Development Cooperation."
Additional MOUs covered clean energy cooperation including renewable energy and nuclear power, carbon capture and storage cooperation, offshore plant service industry cooperation, and financial cooperation between the Export-Import Bank of Korea and Danantara, Indonesia's sovereign wealth fund. An MOU on intellectual property protection and enforcement was also adopted to jointly combat counterfeit goods and strengthen trademark protection.
Six additional MOUs were signed separately without the leaders present: △an MOU on environmental cooperation, △an MOU on core forestry program cooperation, △an MOU on wildfire management and restoration of fire-damaged areas, △an MOU on development cooperation, △an MOU on data and statistics cooperation, and △an MOU on strategic cooperation between the Korea Overseas Infrastructure & Urban Development Corporation (KIND) and Indonesia's Danantara.