'Korea and Indonesia can triple trade in a decade': Bakrie

GYEONGJU, North Gyeongsang Province — Anindya Novyan Bakrie, CEO of Indonesia’s Bakrie & Brothers and chair of the Indonesian Chamber of Commerce and Industry, said Indonesia is seeking deeper cooperation with Korean companies in energy transition, infrastructure, and digital technology to accelerate the country’s green industrialization.

Speaking in an interview on the sidelines of the APEC 2025 CEO Summit in Gyeongju on Wednesday, Bakrie said Korea and Indonesia share “complementary strengths” in advanced technology and industrial capacity.

“Each side exports about 2 1/2 billion dollars to the other. That’s a good start,” he said. “But in ten years, the number can triple.”

Bakrie said Korea’s technological expertise in areas such as battery manufacturing, renewable energy and artificial intelligence can support Indonesia’s young and growing labor force.

“Korea is strong in battery technology, manufacturing, and AI applications,” he said. “We can learn from that while offering scale and resources.”

Bakrie & Brothers is part of the Bakrie Group, one of Indonesia’s oldest conglomerates, founded in 1942 by the CEO’s grandfather. The group now encompasses 11 publicly listed companies and employs more than 50,000 people.

He added that the group is exploring partnerships in electrification, renewable energy and engineering, though he declined to name specific firms.

Under his leadership, the group has evolved from traditional mining and oil businesses toward renewables, carbon capture and digital infrastructure, including data centers and fiber optics.

“We think within ten years we’re not only going to be net zero but probably net negative,” Bakrie said, citing a half-billion-ton carbon capture potential in East Kalimantan. “If we can make Indonesia the mecca of decarbonization, that would be nice.”

He described Indonesia’s energy shift as a matter of “livelihood, not just business,” noting the country’s vulnerability to rising sea levels.

“We have 17,000 islands, and some are disappearing each year,” he said. “So sustainability isn’t just a slogan. It’s survival.”

Bakrie said his group aims to reach net zero by 2042, marking its centennial anniversary. “The country targets 2060, but with support from others, maybe 2050,” he said.

“For us, it would be symbolic to do it in 2042, a hundred years since our founding.”

As Chair of APEC’s Business Advisory Council Indonesia, Bakrie said forums like Gyeongju’s are crucial for gauging sentiment across economies that together account for roughly half of global trade and investment.

“It’s good to see the momentum firsthand to decide what’s right for Indonesia,” he said. “We must translate these big global goals into something that matters for small and micro-businesses back home.”

While Indonesia maintains only limited trade exposure to the US — around 10 percent — Bakrie said new deals with the European Union and Canada show the country’s expanding options.

“The US is a big market, but it’s not the only one,” he said. “What matters now is building resilient, inclusive supply chains with many partners and that’s why we’re here.”