Balanced News: South Korea, Indonesia up cooperation to cut supply chain risks, reliance on China

South Korea and Indonesia have agreed to strengthen their cooperation in economic security, including the production of hi-tech materials such as electric vehicles (EVs). The move aligns with President Joe Biden’s initiative to restructure the global supply chain and reduce reliance on China. Indonesia, as one of the world’s leading producers of nickel, plays a crucial role in South Korea’s economic security. The two countries signed four memorandums of understanding to enhance collaboration in various sectors, including infrastructure and technology. This partnership aims to promote investments and bolster their industrial and technological capacities collaboratively.