Indonesia and South Korea Agree to Strengthen Strategic Economic Cooperation
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GYEOUNGJU, Investortrust.id — Coordinating Minister for Economic Affairs Airlangga Hartarto has met with Minister of Trade, Industry and Energy Kim Jung Kwan to strengthen Indonesia–South Korea economic cooperation ahead of the Asia-Pacific Economic Cooperation Summit 2025, held in Gyeoungju, South Korea, on Friday, Oct 31, 2025.
The meeting served as an important momentum for both nations to deepen collaboration in investment, trade, energy, digitalization, and the development of future industries as part of efforts to promote sustainable economic growth.
“South Korea is one of Indonesia’s key partners in building a competitive and sustainable economy. We want to ensure that our existing cooperation continues to evolve in more strategic and concrete directions,” said Airlangga.
South Korea is among Indonesia’s most significant economic partners, ranking seventh as the largest foreign investor in 2024. Around 2,000 Korean companies currently operate in Indonesia, working closely with local partners — a reflection of strong investor confidence in Indonesia’s economic outlook.
During the bilateral discussion, both ministers reaffirmed their shared commitment to expanding cooperation across strategic sectors, including energy transition, industrial innovation, and digital transformation. The two sides also emphasized their dedication to strengthening the Joint Committee on Economic Cooperation (JCEC), the main platform for advancing bilateral economic initiatives.
Airlangga announced that the third ministerial-level JCEC meeting will be held in Indonesia in the first quarter of 2026 to follow up on previously agreed strategic projects. He also underscored the importance of accelerating the implementation of the Indonesia–Korea Comprehensive Economic Partnership Agreement (IK-CEPA).
“IK-CEPA is a crucial instrument to deepen our economic partnership. Through this framework, we aim to deliver tangible benefits to industries and communities in both countries,” Airlangga said.
Airlangga expressed confidence that Indonesia–Korea cooperation will continue to grow toward a comprehensive, innovative, and sustainable partnership. “Our bilateral economic cooperation not only reflects strong ties between our two nations but also contributes to the region’s sustainable growth. Moving forward, we will continue to build an inclusive and mutually beneficial partnership,” he concluded.
Airlangga was accompanied by Secretary of the Coordinating Ministry for Economic Affairs Susiwijono Moegiarso during the meeting.