Business Forum Indonesia-Korea Highlights Clean Energy Transition
- Press release
VIVA – The Embassy of the Republic of Indonesia in Seoul, with the Centre for Strategic and International Studies (CSIS) and Tenggara Strategies celebrate the Business Forum on 50 Years of Indonesia-Korea Relations at the Oakwood Premiere Hotel, Incheon, South Korea. This business forum provides updates and insights on sustainable financing for clean energy transition and infrastructure in Indonesia.
It is known that Indonesia is currently trying to transform into a sustainable economy to achieve its 2045 vision as the fourth-largest economy. Also, the current government policies and incentives to boost closer cooperation between Indonesia and South Korea in the financial sector to support Indonesia’s downstream industry and infrastructure development.
The forum also discussed efforts to implement the Just Energy Transition Partnership (JET-P) and Energy Transition Mechanism (ETM) for a cleaner and greener future as one of the outcomes of Indonesia’s 2022 presidency in the G20.
As information, the forum was held in conjunction with the celebration of the 50th anniversary of the diplomatic relations between Indonesia and Korea with the support of the Ministry of Finance of the Republic of Indonesia, the Nusantara National Capital Authority of the Republic of Indonesia (Otorita IKN), Bank Indonesia, PT PLN, PT Sarana Multi Infrastruktur (SMI) and KB Kookmin Bank.
This time, the business forum takes the theme Developing Closer Friendship and Stronger Partnership through Enhanced Sustainable Financing for Investment in Renewable Energy and Infrastructure Development.
Celebrate Business Forum on 50 years of Indonesia-Korea
- Press release
“I highlight Indonesia’s acceleration efforts on clean energy transition, which is the core and focus of the current Indonesian government policy,” Minister of Finance, Sri Mulyani Indrawati stated in her remarks on May 3, 2023.
She also mentioned that Indonesia launched the Energy Transition Mechanism (ETM) Country Platform during its G20 Presidency in November 2022, with the first ETM Project identified being the retirement of a 660 MW coal-fired power plant in West Java aimed to promote a just and affordable transition in Indonesia and beyond.
