South Korea and Indonesia agreed on Monday to increase their collaboration on electric vehicles, batteries, and supply chains of important industrial minerals, according to the Ministry of Trade, Industry and Energy. This was a result of recent summit conversations between South Korean President Yoon Suk Yeol and Indonesian President Joko Widodo, who agreed to deepen cooperation in high-tech industries, infrastructure, and defense. During the meeting, the two countries agreed to increase their investment in the production of EVs and batteries to make progress in the Southeast Asian and global markets. They also promised to work together on supply chains of key minerals, such as nickel, since Indonesia is abundant in these natural resources. In order to reach zero-emission goals, the two sides agreed to initiate joint projects to reduce emissions and to construct facilities for green hydrogen and solar power production. Additionally, they will increase ties in the field of small modular reactors. As important economic partners, South Korea and Indonesia have had a strong economic relationship for the past 50 years, and they are now looking to further this relationship by enhancing cooperation in areas such as climate change and supply chains. Last year, the two-way trade between the two nations reached an all-time high of $24.5 billion.
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