Jakarta, CNBC Indonesia – A total of 60 companies from Indonesia and South Korea (South Korea) held a meeting, Wednesday (8/11/2023). They participate in B2B forums (Business to Business) which discusses investment electric vehicle (EV) aka electric vehicles.
“The Korea-Indonesia EV Partnership Business Plaza is a follow-up to the implementation of the EV development cooperation agreement, which was agreed at the ASEAN Plus Three Summit between Korea and Indonesia last September,” said South Korean Ambassador to the Republic of Indonesia Lee Sang-deok.
He said this forum was an opportunity for Korean companies to enter the ASEAN market. This will also be an opportunity for Indonesia to become a center for electric cars and batteries in ASEAN.
Meanwhile, Director General of KOTRA Jakarta, Lee Jang-hee, said that trade between Korea and Indonesia has continued to increase. Even 130 times in trading volume since 1973.
“This success was achieved because the two countries have maintained a mutually beneficial partnership,” he said.
“We will continue the support program for the electric car and battery industry, and hope that the two countries can develop together for the next 50 years,” he added.
The meeting of dozens of companies operating in the fields of electric car components, electric motorbikes, as well as companies providing charging and charging solutions has resulted in more than 130 consultations. These companies participated to seek opportunities to establish joint venture partnerships, as well as plan steps to enter the Indonesian market through technology transfer and exports.
There is collaboration between large Korean companies in the battery sector such as LG EnSol. There are also companies startups Korean local, A, which signed a component purchase contract with PT Dharma Polimedia, the largest automotive components company in Indonesia.
For information, Indonesia has the largest nickel reserves in the world and the domestic market and plans to become a center for electric vehicles in ASEAN. Currently, Indonesia has the 6th largest car market share in the world and the largest in ASEAN, even though EVs only reach 1% of total vehicle sales.
[Gambas:Video CNBC]
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