SEOUL -- South Korean President Lee Jae Myung on Wednesday asked Indonesian President Prabowo Subianto to expand cooperation on resource supply chains, Cheong Wa Dae said, amid growing uncertainty over oil and gas supplies since the start of the war in the Middle East.
During summit talks with Prabowo, who was on a three-day state visit, Lee said that the prolonged war in the Middle East is likely to cause concerns about a "big impact" on energy supplies for both South Korea and Indonesia.
South Korea and Indonesia "need to expand cooperation on resource security to minimize the impact of this crisis," Lee told Prabowo, according to Cheong Wa Dae.
Lee highlighted Indonesia's role in supplying key energy resources, such as liquefied natural gas (LNG) and coal, to South Korea, as well as close cooperation in the defense industry, describing the country as a major investment destination for Korean companies.
"Indonesia was the first overseas destination for Korean companies and is now a valuable partner in the Korean defense industry," Lee said.
South Korea plans to sign a deal to export 16 KF-21 jets to Indonesia, a joint development program between the two nations, which would mark the country's first overseas sale of its indigenous fighter jets.
Noting Korean firms' participation in Indonesia's electric vehicle production, Lee expressed hope to expand cooperation on future projects in advanced industries.
Prabowo emphasized the importance of bilateral ties amid rising global uncertainties, expressing hope that the two countries will complement each other as partners with shared interests.
He noted that South Korea's advanced manufacturing capabilities and technology could align with Indonesia's abundant resources and market, while also stressing the need to strengthen cooperation in security and the defense industry.
During the summit, the two countries signed 10 memorandums of understanding (MOUs) to deepen economic ties and expand cooperation in areas such as critical minerals, advanced technologies, AI-based health care and intellectual property rights, among others.
Additional agreements focused on expanding cooperation in renewable energy, nuclear energy and the joint development of carbon capture and storage technologies.
Separately, the state-run Export-Import Bank of Korea and Danantara Investment Management, Indonesia's sovereign wealth fund, agreed to cooperate on financing to support Korean companies' entry into Indonesia in promising sectors, including critical minerals, data centers and renewable energy.
In their second meeting following their talks on the sidelines of the APEC summit in South Korea in November, Lee plans to award Prabowo the Grand Order of Mugunghwa, South Korea's highest honor, in recognition of his contributions to strengthening bilateral ties, including support for Korean companies operating in the Southeast Asian nation, presidential spokesperson Kang Yu-jung said.
Lee will also present Prabowo with a traditional Korean bow set and a martial arts book from the Joseon Dynasty (1392-1910), reflecting the Indonesian president's strong interest in martial arts, shaped by his background as a former Army general and defense minister, she added.
