South Korean President Yoon Suk Yeol has met with his Indonesian counterpart, Joko Widodo, to deepen economic ties and defense cooperation amid heightened global geopolitical tensions.
Indonesia’s foreign affairs minister, Retno Marsudi, told reporters after the meeting that Widodo welcomed commitments made by South Korean company LG and its partners in Indonesia to “accelerate the realization of a grand investment package worth $9.8 billion for the construction of a cathode factory” on Indonesia’s Batam island, next to Singapore.
Indonesia, Southeast Asia’s largest economy, has imported a total of $4.3 billion in South Korean arms, according to government data, making it the country’s largest export destination among ASEAN countries. The two leaders on Friday took part in the signing of agreements on agriculture, infrastructure, electrical vehicle ecosystems and food exports, and discussed possible Korean investment in a new capital city. Indonesia plans to move its capital from the congested and polluted city of Jakarta on the main island of Java to Nusantara on Borneo island next year.
In talks with Southeast Asian leaders, China and Japan, in Jakarta on Wednesday, Yoon raised concerns about North Korea’s nuclear and missile provocations and underscored the need for a firm and united response from the international community.
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