Indonesian and South Korean leaders agree to boost economic ties


South Korean President Yoon Suk-yeol (right) shakes hands with Indonesian President Joko Widodo (L) during a joint press conference after their meeting at the presidential office in Seoul on July 28, 2022.- AFP

SEOUL, July 31 (AP): The presidents of South Korea and Indonesia agreed this week to boost their bilateral cooperation on supply chains, economic security and defence.

Earlier, Indonesian President Joko Widodo arrived in South Korea last Wednesday as part of a regional trip that already took him to China and Japan.

During a joint press conference with Widodo, South Korean President Yoon Suk Yeol said the two shared concerns about North Korea’s nuclear and missile threats and agreed to support a concerted international response to the North’s weapons programs. He didn’t elaborate.

Yoon said he and Widodo agreed to work together to resolve global energy and food crises and support an international effort to restore democracy in Myanmar.

Yoon said they also agreed to strengthen bilateral cooperation on stabilizing supply chains for key minerals and to establish a strategic partnership on high-tech industries such as one on electric vehicle batteries.

Widodo, speaking through an interpreter, said he and Yoon welcome an increase in bilateral trade. He said that South Korean investments have grown rapidly in Indonesia's steel, petrochemical, electric vehicle battery, communications and garment industries.

He said he’s confident that bilateral economic partnerships will strengthen further. - AP

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