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S. Korea, Indonesia to expand economic ties

All News 10:00 May 26, 2021

By Kang Yoon-seung

SEOUL, May 26 (Yonhap) -- South Korea and Indonesia on Wednesday agreed to expand economic ties to overcome challenges from the new coronavirus pandemic and seek green growth.

Industry Minister Moon Sung-wook met his Indonesian counterpart, Luhut Binsar Pandjaitan, in Seoul to discuss a wide array of bilateral economic issues, according to the Ministry of Trade, Industry and Energy.

During the meeting, Seoul and Jakarta vowed to jointly make efforts in rolling out the so-called Green New Deal policies, which center on seeking more sustainable development and reducing the emission of greenhouse gases.

S. Korea, Indonesia to expand economic ties - 1

The two countries agreed to speed up a process to fully implement the Comprehensive Economic Partnership Agreement (CEPA), an equivalent of a free trade agreement, which was signed in December last year.

Seoul and Jakarta are both awaiting parliamentary approval.

Moon also requested Indonesia continue offering support to South Korean businesses based in the Southeast Asian country.

The two ministers shared ideas on improving the business environment for various industries, including automobiles, rechargeable batteries and textiles.


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