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Supported By
The Business Forum on 50 Years of Indonesia-Korea Relations: Developing Closer Friendship and Stronger Partnership through Enhanced Sustainable Financing for Investment in Renewable Energy and Infrastructure Development (한,인니 수교 50주년 기념 경제협력 비즈니스 포럼: 재생 에너지 및 인프라 개발 투자를 위한 자금 조달 강화) is organized in conjunction with the celebration of the 50th anniversary of the diplomatic relations between Indonesia and Korea.
This event is jointly hosted by the Embassy of the Republic of Indonesia in Seoul, the Centre for Strategic and International Studies (CSIS) Indonesia, and Tenggara Strategics with the support of the Ministry of Finance of the Republic of Indonesia, the Indonesian Nusantara New Capital Authority (Otorita IKN), Bank Indonesia, PT PLN (Persero) and PT Sarana Multi Infrastruktur Indonesia (SMI) together with The Jakarta Post.
The purpose of organizing this Business Forum is to provide updates and business insights on sustainable financing in Indonesia, notably energy transition and infrastructure, as well as connect potential investors and financiers from South Korea with project owners in Indonesia to support their smooth entrance into the Indonesian market and/or facilitating their business expansion strategy in Indonesia.
The Forum will feature H.E. Ms. Sri Mulyani Indrawati, the Minister of Finance of the Republic of Indonesia (tbc), who will provide valuable insights and perspectives on the current state of the 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 Minister of Finance is also expected to touch upon 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.
The Business Forum will also invite honorable representatives from the Indonesian and Korean Governments and Business Sectors as speakers at the discussion session.
The Business Forum is expected to be attended by approximately 100 offline participants (80 Korean and 20 Indonesian) consisting of Korean government representatives, business leaders (Chairman, CEO, President, etc), representatives of business communities/associations, and more than 200 online participants via Zoom.
May 3, 2023
08:45 - 09:30 am (KST)
06:45 - 07:30 am (Jakarta time)
May 3, 2023
09:30 - 10:25 am (KST)
07:30 - 08:25 am (Jakarta time)
Ambassador of the Republic of Indonesia to the Republic of Korea
Minister of Finance of the Republic of Indonesia
Speakers and Moderators
Governor of the Bank of Indonesia
Chairman of the Nusantara Capital City Authority
Head of the Fiscal Policy Agency, Ministry of Finance of the Republic of Indonesia
Ambassador of the Republic of Indonesia to the Republic of Korea
ADB Country Director for Indonesia
EVP Corporate Strategic Planning of PT PLN
Director of PT Sarana Multi Infrastruktur (Persero)
Executive Director of the Centre for Strategic and International Studies (CSIS)
Executive Director of Tenggara Strategics
Session I: Strengthening Indonesia-South Korea Ties with Sustainable Financing for Renewable Energy and Infrastructure
The Energy and Mineral Resource (ESDM) Ministry’s Energy Sector Roadmap to Net Zero Emissions (NZE) in Indonesia, in collaboration with the International Energy Agency, has released an Energy Sector Roadmap to Net Zero Emissions that emphasizes the importance of scaling up renewable energy, receiving international support, and ensuring energy supplies for economic opportunities. To achieve these goals, the Indonesian Just Energy Transition Partnership has been formed, which will mobilize a $20 billion fund from developed countries and global private lenders. Additionally, pledges have been secured from development banks, private lenders, and philanthropic institutions to retire coal power plants and build renewable power plants under the Energy Transition Mechanism.
Thus, in the first session, the Minister of Finance will be joined by H.E. Mr. Bambang Susantono, the Chairman of Nusantara National Capital City Authority to deliver his insights on strengthening Indonesia and Korea's infrastructure investment cooperation, particularly in support of the construction of the IKN Nusantara and the application of Renewable Energy in achieving the new capital city of Indonesia as a Future Smart Forest City. Furthermore, H.E. Mr. Perry Warjiyo, the Governor of the Bank of Indonesia, will provide concrete insights on his institution’s regulations towards ensuring the contribution of international and domestic financial institutions to Indonesia’s infrastructure and renewable energy development.
Speakers
Governor of the Bank of Indonesia
Chairman of the Nusantara Capital City Authority
Head of the Fiscal Policy Agency, Ministry of Finance of the Republic of Indonesia
Ambassador of the Republic of Indonesia to the Republic of Korea
Moderator
Executive Director of the Centre for Strategic and International Studies (CSIS)
Session II: Energy Transition Financing Through JETP & ETM
The Energy and Mineral Resource (ESDM) Ministry’s Energy Sector Roadmap to Net Zero Emissions (NZE) in Indonesia emphasizes the need to scale up renewable power and secure international support to finance the transition. The Indonesian Just Energy Transition Partnership (JETP) is mobilizing a US$20 billion fund from developed countries and global private lenders to accelerate the country's energy transition and develop an investment plan and technical assistance. Additionally, Indonesia has secured pledges from a group of development banks, private lenders, and philanthropic institutions to buy or refinance coal power plants and build renewable power plants under the Energy Transition Mechanism (ETM). PT Sarana Multi Infrastruktur (SMI) will manage the ETM country platform and coordinate the fund.
Therefore, in the second session, Mr. Jiro Tominaga, ADB Country Director for Indonesia, will share ADB’s role in expediting Indonesia’s energy transition through JETP and ETM financing. ADB provides institutional supports and implementation capacity for Indonesia’s JETP and ETM. Furthermore, Mr. Darmawan Prasodjo, CEO of state-owned electricity company PT PLN will then highlight the company’s energy transition from fossils to renewable energy and the investment opportunity available for South Korean investors, including in early retirement of coal-powered power plants and building renewable power plants under the JETP and ETM mechanism. Mr. Pradana Murti, Risk Management Director of state-owned infrastructure financing company PT Sarana Multi Infrastruktur (SMI), will update available financing mechanism for energy transition in Indonesia, either through JETP or ETM mechanism. PT SMI is Country Platform Manager for both JETP and ETM.
Speakers
ADB Country Director for Indonesia
EVP Corporate Strategic Planning of PT PLN
Director of PT Sarana Multi Infrastruktur (Persero)
Moderator
Executive Director of Tenggara Strategics
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