Alfi Dinilhaq, Jakarta – President Prabowo Subianto received a courtesy visit from the Federation of Korean Industries (FKI) at the Merdeka Palace in Jakarta on Monday as both countries seek to strengthen economic ties amid global trade turmoil triggered by the US sweeping tariff hikes. Vice President Gibran Rakabuming Raka also attended the meeting.

"The meeting agenda focused on enhancing economic cooperation, expanding investment opportunities, and increasing collaboration in various strategic sectors," said Yusuf Permana, Deputy for Protocol, Press, and Media at the Presidential Secretariat, as quoted by Antara.

This meeting is expected to create new opportunities to reinforce the economic relationship between the two countries.

Previously, in mid-February, Coordinating Minister for Economic Affairs Airlangga Hartarto met with Kim Chang-beom, CEO and Vice Chairman of FKI, to discuss strategies for strengthening cooperation in the global supply chain.

During the meeting held at the Coordinating Ministry for Economic Affairs office, Kim Chang-beom conveyed FKI's plan to conduct a business mission visit to Indonesia in April 2025 and requested the Indonesian government's support for the event's smooth execution.

"This business mission aims to strengthen bilateral business and economic relations, particularly in new investment sectors, including plans for South Korean industrial expansion in Indonesia," Kim said in an official statement in Jakarta on Tuesday (February 18, 2024).

The business mission will involve several major South Korean companies, including Lotte Group, Hyundai Motor Company, LG Group, SK Group, Posco Holdings, CJ, EcoPro, Doosan Enerbility, and LX International – both those already investing and those planning to expand their investments in Indonesia.

In response, Airlangga expressed his appreciation for the initiative and encouraged the acceleration of Korean investment projects in Indonesia.

According to Airlangga, building partnerships with countries that have advanced experience and technology, such as South Korea, is a strategic step to enhance the competitiveness of national industries, accelerate technology transfer, and open broader market access.

"Indonesia welcomes and is open to South Korean companies," he said.

Source: https://jakartaglobe.id/business/indonesia-strengthens-economic-ties-with-south-kore