S Korea, Indonesia agree to cooperate on nuclear power generation, minerals

Seoul: South Korea and Indonesia signed 14 initial agreements and two contracts during a business roundtable held in Jakarta on Thursday to boost cooperation on nuclear power generation, major minerals and other industry spheres, Yonhap reported citing South Korea’s Trade, Industry and Energy Ministry.
The ministry said South Korean President Yoon Suk-yeol visited the Southeast Asian country for an East Asia Summit.
The two countries’ nuclear power associations signed a memorandum of understanding (MOU) to exchange information on nuclear power generation, with the focus on small modular reactors (SMRs). The ministry said Jakarta is pushing to introduce new SMRs by 2039.
The chiefs of South Korea’s 19 largest concerns, such as Hyundai Motor, LG, Lotte Group, LS and others attended the round table in Jakarta. Indonesia was represented by 17 businessmen and the head of the Indonesian Chamber of Commerce, the coordinating minister for maritime and investments affairs and the health minister.
According to the International Monetary Fund, Indonesia emerged as the largest ASEAN economy last year, ahead of Thailand, Singapore, Malaysia, Vietnam and the Philippines. Indonesia’s GDP reached $1.3 trillion, which is 36 percent of the overall GDP of the Association of Southeast Asian Nations.