TEMPO.CO, Jakarta - Indonesia President Prabowo Subianto witnessed firsthand the announcement and signing of 10 Memorandums of Understanding (MoU) between Indonesia and the Republic of Korea in Seoul on Wednesday, April 1, 2026. The agreements reached by both countries covered various priority sectors, ranging from the economy, energy, digital, to health and future industries.
Coordinating Minister for the Economy Airlangga Hartarto revealed the value of the investment from the agreement while accompanying the Head of State during the state visit. "In the meeting, Memorandums of Understanding were signed with a value of US$10.2 billion or Rp173 trillion," he said in a statement from Seoul, South Korea, as quoted through the President's Secretariat's Youtube channel on April 2, 2026.
The agreement involved several sectors, such as a memorandum of understanding between Danantara and Korea Eximbank. There was also a business collaboration and association between the Indonesian Chamber of Commerce and Industry (Kadin) and the Korea Chamber of Commerce and Industry (KCCI).
The MoU included agreements between PLN IP and LXI for a joint study on the potential development of new and renewable energy projects in Indonesia. Then, a MoU between PT Pertamina Hulu Energi (PHE) and ExxonMobil on cross-border cooperation in carbon capture and storage (CCS).
In the property and infrastructure sector, there were developments in Bumi Serpong Damai carried out through the commitment between Sinarmas Land (PT Bumi Serpong Damai) and Daewoo for the partnership in the development of residential and commercial land in BSD City.
Here are the 10 MoUs signed between the Indonesian Government and Korea.
1. MoU on the Formation of a Special Comprehensive Strategic Dialogue
2. MoU on Economic Cooperation 2.0
3. MoU on Cooperation in Critical Mineral Partnerships
4. MoU on Cooperation in Digital Development
5. MoU on Cooperation in AI for Basic Health and Human Development
6. MoU on Strengthening Cooperation in the Field of Clean Energy
7. MoU on Cooperation in Carbon Capture and Storage (CCS)
8. MoU on Cooperation in Offshore Power Generation Services
9. MoU on Protection and Enforcement of Intellectual Property Rights
10. MoU on Financial Cooperation (Danantara-Exim Bank of Korea)
Read: Prabowo's South Korea Visit Secures $10.2 Billion in Investment Deals
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