Remarks of President of the Republic of Indonesia at the Inauguration of South Korean Battery and EV Ecosystem in Indonesia: Turning Vision into Reality, at PT Hyundai LG Indonesia (HLI) Green Power, Karawang Regency, West Java Province, July 3, 2024

Assalamu’alaikum warahmatullah wabarakatuh.

Distinguished Minister of Trade of the Republic of Korea, His Excellency In-kyo Jeong; Distinguished Ministers of the Indonesia Onward Cabinet;

Distinguished Ambassador of the Republic of Korea to Indonesia, His Excellency Lee Sang-deok;

Distinguished Executive Chairperson of Hyundai Motor Group, Mr. Euisun Chung;

Distinguished CEO of LG Solution, Mr. Dong Myung Kim;

Ladies and gentlemen, distinguished guests.

Today we are starting a new milestone to affirm Indonesia’s commitment to becoming a global player in the battery cell and EV ecosystem. We have abundant natural resources but we have exported them in raw material form for decades with no added values, while our resources are being depleted day by day.

However, now by the presence of smelter and EV battery cell factory, we will become a key player in EV global supply chains, thanks to the great vision and courage of Chairman Chung, who took the action to start this giant project despite COVID-19 pandemic. Thus, once again I would like to express appreciation to Chairman Chung for his bold decision to decide something very significant during the pandemic.

Moreover, the most important thing, we have to really be able to become a key player of the EV global supply chains. This is the initial step towards the goal. This project is also the first and largest EV battery cell factory in Southeast Asia. I believe we can win over other countries because we have all the resources needed, be it nickel, bauxite, copper, smelters, as well as (industries that produce) cathodes, (battery) precursors, and EV batteries. We also have an EV factory. Everything is integrated into an ecosystem for electric cars. Who can compete with us in such conditions?

I really appreciate the investment worth Rp20 trillion from Hyundai car factory. I also appreciate the integrated grand package ecosystem for EV battery which will be launched today. This is a consortium between Hyundai and LG worth Rp160 trillion which will be built in stages. I hope this mark the stronger relations between the Republic of Korea and Indonesia.

I conclude my remarks. By saying bismillahirrahmanirrahim today I inaugurate South Korean factory and ecosystem of battery and electric vehicles in Indonesia.

I thank you.
Wassalamu’alaikum warahmatullahi wabarakatuh.

(EST/RAS/LW)