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, aligning with US President Joe Biden's efforts to restructure the global supply chain away from China. The two countries signed several memorandums of understanding focusing on collaboration in areas such as electric vehicles (EVs), infrastructure, research and development, and technology. Indonesia's role as a leading producer of nickel, a critical component for EV batteries, makes it an important economic partner for South Korea. The move aims to reduce dependence on China in the global supply chain and diversify rare earth material imports.

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