- Registration date2026-04-02
- Attached file
The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) and the Embassy of the Republic of Indonesia in South Korea hosted the Korea–Indonesia Business Forum at The Shilla Seoul on April 1, 2026. Held in conjunction with Indonesian President Prabowo Subianto’s official visit to Korea, the forum brought together about 300 participants from the governments, public institutions, and businesses of both countries.
At the forum, the two sides discussed industrial ecosystem cooperation in electric vehicles and steel as a means to further deepen bilateral economic cooperation. They also exchanged views on strategies to expand cooperation into new areas such as bioindustry and consumer goods.
Indonesia’s Ministry of Investment and Downstream Industry (BKPM), together with Korea’s POSCO, LG Energy Solution, and Hyundai Motor Company, presented plans to establish supply chains and build industrial ecosystems. Indonesia’s Danantara and JAPFA, along with Korea’s SK Plasma and CJ CheilJedang, also discussed strengthening cooperation in bioindustry and consumer goods.
The forum included the exchange of nine memoranda of understanding (MOUs) and three letters of intent (LOIs) between Korean and Indonesian companies across industry, energy, construction, and finance. The exchange took place in the presence of Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto and Trade Minister Yeo Han-koo.
“Through this business forum, Korea and Indonesia should expand trade and investment, deepen manufacturing cooperation, and strengthen critical mineral supply chains to generate mutually beneficial outcomes and grow together on that basis,” Trade Minister Yeo said.
Korea’s innovation capabilities in advanced industries and Indonesia’s abundant resources make the two countries complementary economic partners. The Korea–Indonesia Comprehensive Economic Partnership Agreement (CEPA), which entered into force in 2023, has strengthened that partnership. Under the agreement, Indonesia eliminated tariffs on 93 percent of tariff lines and Korea on 95.5 percent.
Since the CEPA entered into force, Korea’s semiconductor exports to Indonesia have risen 12.3 percent, from USD 453.0 million in 2023 to USD 509.0 million in 2025. Over the same period, Indonesia’s exports of ferroalloys and steel scrap to Korea rose 185.7 percent, from USD 98.0 million to USD 280.0 million.
The Korean government will continue to monitor private-sector cooperation outcomes from the forum through a task force on summit-linked economic events. It will also support Korean companies so that the MOUs signed with Indonesian partners translate into tangible projects.