The President of The Republic of Korea Visits the 43rd ASEAN Summit, Two MoUs for Clean Energy Signed by Korean Enterprises

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The President of The Republic of Korea, Yoon Suk Yeol, visited Indonesia between September 5-8 2023, to take part in the 43rd ASEAN Summit Agenda. In a bilateral meeting between Korea and Indonesia, President Joko Widodo delivered his gratitude to the Korean Delegation, as their visit symbolizes the support for Indonesia’s standing in ASEAN.

President Yoon’s visit also aligned with the signing of important MoUs between national enterprises of both nations working in energy, in support of transition efforts to clean energy and the fulfillment of net zero emissions by 2060. 

On 7 September 2023, President Yoon attended the Indonesia-Korea Business Roundtable event, as a summit agenda for ASEAN Plus Three. Marking fifty years of Indonesian-Korean partnership, the President highlights the potential Indonesia has in ASEAN in their management of core minerals, and the support Korean technology can provide to reach carbon neutrality.

With the Coordinating Minister of Maritime Affairs and Investment, Luhut Binsar Pandjaitan, also present, sixteen MoUs were signed for topics in core minerals, nuclear energy, and electricity. One of these MoUs was between PT Pertamina and the Korea National Oil Corporation on Rig to CCUS, where collaboration between both companies was facilitated by KIORCC.

During the Indonesian Sustainability Forum (ISF), PT PLN (Persero) and Karbon Korea Co., Ltd signed an MoU for the Collaboration and Technological Implementation of Carbon Capture, Utilization, and Storage (CCUS). In attendance was Darmawan Prasodjo, President Director of PLN, who voiced his support for the development of environmentally friendly renewable energy, and hopes for the acceleration of such activities through this collaboration.

Through this PT PLN – Karbon Korea Co. MoU, both parties will also conduct a study on renewable energy, knowledge sharing, and improving capacity building of the employees. Won-Dong Cho, Advisor of Karbon Korea Co., further underlined Karbon Korea’s commitment to support the development of renewable energy by PT PLN.

In a statement delivered by the Minister of Foreign Affairs of the Republic of Indonesia, Retno Marsudi, it was shared that President Yoon hopes to strengthen the relationship between both countries and supports Indonesia’s economic transition plan, i.e. the Indonesia Emas 2045 vision, which aims at increasing the country’s GDP in hopes of exiting the “Middle Income Trap” (MIT) by 2045.