South Korea and Indonesia Discuss Energy Security, Sign Agreements on Minerals and Tech

Indonesian President Prabowo Subianto (L) and South Korean President Lee Jae Myung (R) pose for a photo during their meeting at the presidential office in Seoul on April 1, 2026. (Photo by YONHAP / AFP)
Indonesian President Prabowo Subianto (L) and South Korean President Lee Jae Myung (R) pose for a photo during their meeting at the presidential office in Seoul on April 1, 2026. (Photo by YONHAP / AFP)
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South Korea and Indonesia Discuss Energy Security, Sign Agreements on Minerals and Tech

Indonesian President Prabowo Subianto (L) and South Korean President Lee Jae Myung (R) pose for a photo during their meeting at the presidential office in Seoul on April 1, 2026. (Photo by YONHAP / AFP)
Indonesian President Prabowo Subianto (L) and South Korean President Lee Jae Myung (R) pose for a photo during their meeting at the presidential office in Seoul on April 1, 2026. (Photo by YONHAP / AFP)

South Korean President Lee Jae Myung held talks on Wednesday with Indonesian leader Prabowo Subianto, discussing energy security and agreeing to expand cooperation in areas such as critical minerals and technology, Lee's office said.

The summit talks followed a welcome ceremony at the presidential Blue House in Seoul.

Lee said energy security had become a growing concern amid the global uncertainty triggered by the conflict in the Middle East.

"We view Indonesia's stable role in supplying key energy resources such as LNG and coal as very ⁠reassuring," Lee said ⁠in a statement, calling for closer cooperation on energy supply and resource security.

Indonesia is the world's largest exporter of thermal coal, while South Korea has been among the five biggest importers of the fuel in recent years, according to Korean government data.

South Korea also imported about 2.1 million tons of liquefied natural gas from Indonesia in 2025, data showed.

The Indonesian president arrived in Seoul from Japan where Jakarta agreed to ⁠step up coordination with Tokyo on energy security, Reuters reported.

Prabowo described South Korea and Indonesia as natural partners with "complementary roles,” pointing to South Korea's industrial and technological strengths and Indonesia's abundant resources and large market.

South Korea's exports to Indonesia stood at $7 billion in 2025, while imports were $11.3 billion, trade data showed.

Lee and Prabowo also oversaw the signing of multiple preliminary agreements, including support for projects in renewable energy and data centers as the countries elevate their relationship into a strategic partnership.

JOINT FIGHTER PROJECT

Prabowo, a former general, also said that strong defense capabilities were essential, saying peace and stability required "robust security and defense."

No deals were announced on defense cooperation, however, including on the two ⁠countries' joint project ⁠to develop South Korea's homegrown KF-21 fighter jet.

Korea Aerospace Industries last month said it was in talks with Indonesia on a potential sale of KF-21 fighter jets, but said no decisions had been made. Media reports said that Jakarta was considering purchasing an initial batch of 16 aircraft.

South Korea expects Indonesia to complete a payment related to the joint development program by the end of this year, an official told Reuters. The countries were expected to advance defense ties, as well as strengthen cooperation in new growth areas such as artificial intelligence, infrastructure, shipbuilding, nuclear power, energy conversion, and cultural industries, the Blue House said in an earlier statement.

Lee is also set to award Prabowo South Korea's highest civilian honor, the Grand Order of Mugunghwa, during the state visit, the presidential office said.



Morocco’s Royal Air Maroc Scales Back Flights Due to Fuel Costs

 People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)
People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)
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Morocco’s Royal Air Maroc Scales Back Flights Due to Fuel Costs

 People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)
People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)

Morocco's state-owned carrier Royal Air Maroc (RAM) said on Saturday it would temporarily suspend several routes to African and European destinations due to ‌rising jet ‌fuel prices, ‌elevated ⁠operating costs and ⁠weak demand.

Tensions in the Middle East have driven a surge in global jet fuel ⁠prices, putting ‌pressure ‌on carriers and ‌prompting temporary route suspensions.

RAM ‌will pause flights linking Moroccan airports with several African cities ‌of Bangui, Brazzaville, Kinshasa, Douala, Yaounde and ⁠Libreville, ⁠the airline said in a statement.

It will also halt flights to the European destinations of Malaga, Barcelona, Lyon, Bordeaux, Marseille and Brussels.


Official: Iraq Has Not Yet Applied for an IMF Loan

A floating oil export platform in Basra port, Iraq (Reuters)
A floating oil export platform in Basra port, Iraq (Reuters)
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Official: Iraq Has Not Yet Applied for an IMF Loan

A floating oil export platform in Basra port, Iraq (Reuters)
A floating oil export platform in Basra port, Iraq (Reuters)

Financial Advisor to the Iraqi Prime Minister Mazhar Mohammed Saleh revealed on Saturday that Iraq has not yet submitted a formal request for a loan from the International Monetary Fund (IMF).

The Iraqi News Agency quoted Saleh as saying that “Iraq enjoys close relations with the IMF, and since 2003, it has concluded more than five agreements, three of which were Stand-by Arrangements, while the other agreements related to emergency support.”

Iran's war has caused significant disruptions in supply chains, especially in the energy sector, which was severely affected by a near-complete closure of the Strait of Hormuz, through which about 20 percent of global oil supplies pass.

Saleh stated that “the Fund has played a significant role in supporting the Iraqi economy over the past 23 years, especially since Iraq is now considered one of the biggest victims of the ongoing war in the region, considering that 85 percent of its oil exports pass through the Strait of Hormuz. This has caused significant harm and international concern, given that Iraq is an important and active member in the stability of the region and world markets.”

He pointed out that there is an Iraqi government team in contact with the IMF, meeting with Fund officials for consultations twice a year.

He clarified that “Iraq signed an agreement with the IMF on July 7, 2016, for a Stand-by Arrangement by providing a significant loan, which played a major role in supporting the general budget,” noting that “signing an agreement with the Fund is a matter decided by the Iraqi government, and this does not prevent consultations between the two parties, as Iraq is a member of this institution responsible for global stability.”

Saleh mentioned that “Iraq will borrow from the International Monetary Fund if the need arises, but there is no formal request from the government yet, and the current need is for the war in the region to stop, and for its geopolitical impacts on oil exports to cease.”

He added that “technical assistance from the IMF is available now, unlike the issue of financing, which requires the approval of a program by the Iraqi government.”

He explained that “the loan itself represents a reform program to support the budget or to achieve social goals, such as supporting the health and education sectors, because it is a human investment that must be subject to conditions defining expenditure directions and commitment to a reform program agreed upon by the Iraqi state and the IMF.”


Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port

Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port
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Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port

Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port

The Saudi Ports Authority (Mawani) has added CMA CGM's Ocean Rise Express (OCR) shipping service to Jeddah Islamic Port, aiming to strengthen maritime connectivity between Saudi Arabia and global markets, support the smooth flow of supply chains, and increase the efficiency of port operations.

The OCR service will connect Jeddah to key international ports, including Kobe, Nagoya, and Yokohama in Japan; Xiamen, Yantian, and Nansha in China; Rotterdam in the Netherlands; Hamburg in Germany; and Southampton in the United Kingdom.

The route will utilize vessels with a capacity of up to 10,000 TEUs, according to SPA.

This addition aligns with Mawani’s efforts to enhance Jeddah Islamic Port’s global competitiveness and support international trade.

By enabling access to new markets, the initiative reinforces the Kingdom's position as a global logistics hub in line with the National Transport and Logistics Strategy and Saudi Vision 2030.