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RI, South Korea mark 50 years of diplomacy, look to stronger cooperation
As Indonesia and South Korea celebrate 50 years anniversary of diplomatic relationships, the two countries are eyeing stronger economic cooperation and investment amidst the geopolitical tensions of the Indo-Pacific region.
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Stock illustration of the national flags of South Korea (left) and Indonesia. (Shutterstock/Aritra Deb)
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s Indonesia and South Korea celebrate 50 years of diplomatic relations, the two countries are eyeing stronger economic cooperation and investment amid the geopolitical tensions in the Asia-Pacific.
Foreign Minister Retno L.P. Marsudi said that over five decades, the two countries had forged even closer ties with each other.
“Today, Indonesia and the ROK [Republic of Korea] are more than close friends. We are special strategic partners,” Retno said in her recorded address, presented at an event in Jakarta on Thursday to mark the 50th anniversary of Indonesia-South Korea diplomatic relations.
She said that Indonesia and South Korea's bilateral trade volume in 2022 had reached US$20.57 billion, the highest in the last five years.
“This year, we recorded a new milestone with the entry into force of the Indonesia-Korea Comprehensive Economic Partnership Agreement [IK-CEPA],” Retno said.
Negotiations on the IK-CEPA started in 2012, but were suspended in 2014. In 2019, the two countries resumed negotiations, which culminated in their signing the agreement on Dec. 18, 2020. The agreement entered into force on Jan. 1, 2023.
Retno also noted that South Korea was taking part in the development of Indonesia’s new capital Nusantara in East Kalimantan, with investments totaling around $ 6.37 billion that created 58,000 new jobs.
