Jakarta. Indonesia says "annyeonghaseyo” or hello to a new “special comprehensive strategic partnership” with South Korea, even becoming the first country to do so.

The two G20 nations announced the new cooperation when South Korean President Lee Jae Myung hosted his Indonesian counterpart Prabowo Subianto at the Blue House. They were previously on just a “special strategic partnership” — a level of closeness reached back in 2017.  

“We will reap historic results in upgrading our bilateral relationship to a special comprehensive strategic partnership. The Republic of Korea has only one of these relationships with any country in the world,” Lee Jae Myung said.

Prabowo admitted that there would be “ups and downs” — even misunderstandings — in relations. However, “common interests” could glue them together, according to the retired army general. This includes the common interests that stem from being “trading countries” that reside in the Indo-Pacific region.

“There are no permanent friends [nor] enemies. Only permanent interests,” Prabowo said.

Lee Jae Myung said at a state luncheon that this “highest level” of partnership could translate into a more comprehensive cooperation in the defense industry, economy, among others. Both economies have been working together on the KF-21 fighter jet joint development, although the project has faced obstacles, including missed payment deadlines by the junior partner, Jakarta.

Prabowo is set to bring home a string of deals spanning from the financial sector to clean energy, with sovereign wealth fund Danantara among the signatories. Lee Jae Myung praised Danantara's growth as “a global-scale sovereign fund”.

Indonesia-South Korea trade totaled $18 billion in 2025. Seoul has agreed to grant zero tariffs for a large part of Indonesian exported goods thanks to a bilateral trade deal that kicked in early 2023. Indonesia is reported to have amassed nearly $2 billion in South Korean investments last year.