LG EV Battery Investment Cancellation, Trump Tariffs, and Intellectual Property as Loan Collateral: Key Headlines
**1. On LG's Cancelled EV Battery Investment, Rosan Says: 'Actually, We Were the Ones Who Decided!'**
Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM) Rosan P. Roeslani stated that the Indonesian government had already decided not to proceed with the investment from the consortium led by LG. The decision was based on an official letter from the Ministry of Energy and Mineral Resources (ESDM) dated 31 January 2025. Rosan thus affirmed that it was not LG and the South Korean consortium that decided to cancel the investment first.
"It was said that they (LG) pulled out, but to be more precise, it was actually us who made the decision, based on the letter dated 31 January 2025 issued by the Ministry of Energy and Mineral Resources," he emphasised.
He then explained the reasons behind the government's issuance of the said letter.
**2. Prabowo: Trump's Tariffs Will Not Shake Indonesia**
President Prabowo Subianto affirmed that Indonesia would continue to fight through negotiations in response to the reciprocal import tariffs imposed by the United States. Prabowo also stressed that Indonesia would not surrender or beg for mercy from other parties during the negotiation process.
He made the remarks whilst delivering a speech at the Indonesia Planting Movement event in Banyuasin Regency, South Sumatra, on Wednesday (23/4/2025).
"We will never surrender. We will never kneel, we will never beg. We will never ask for anyone else's pity. There is no need for pity. The Indonesian nation does not need pity," Prabowo declared, as broadcast on the Presidential Secretariat's YouTube channel on Thursday (24/4/2025).
**3. OJK: Intellectual Property Rights Can Serve as Loan Collateral**
The creative economy industry now has the opportunity to use Intellectual Property Rights (IPR) as collateral when accessing financing from financial institutions. Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar said that financial access for the creative sector continues to be expanded, with one breakthrough being the acceptance of IPR as collateral.
"It has indeed been recognised under existing regulations, and its implementation has become one of the considerations," Mahendra said at a press conference for the launch of OJK Infinity 2.0 and the signing of a memorandum of understanding between the Ministry of Tourism and Creative Economy/Creative Economy Agency and the OJK on Thursday (24/4/2025).
According to him, collateral is an important requirement in the lending process. Beyond collateral, financial institutions also consider the reputation and character of the borrower. Companies or individuals are also required to submit financial reports and projections of future financial conditions.
Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM) Rosan P. Roeslani stated that the Indonesian government had already decided not to proceed with the investment from the consortium led by LG. The decision was based on an official letter from the Ministry of Energy and Mineral Resources (ESDM) dated 31 January 2025. Rosan thus affirmed that it was not LG and the South Korean consortium that decided to cancel the investment first.
"It was said that they (LG) pulled out, but to be more precise, it was actually us who made the decision, based on the letter dated 31 January 2025 issued by the Ministry of Energy and Mineral Resources," he emphasised.
He then explained the reasons behind the government's issuance of the said letter.
**2. Prabowo: Trump's Tariffs Will Not Shake Indonesia**
President Prabowo Subianto affirmed that Indonesia would continue to fight through negotiations in response to the reciprocal import tariffs imposed by the United States. Prabowo also stressed that Indonesia would not surrender or beg for mercy from other parties during the negotiation process.
He made the remarks whilst delivering a speech at the Indonesia Planting Movement event in Banyuasin Regency, South Sumatra, on Wednesday (23/4/2025).
"We will never surrender. We will never kneel, we will never beg. We will never ask for anyone else's pity. There is no need for pity. The Indonesian nation does not need pity," Prabowo declared, as broadcast on the Presidential Secretariat's YouTube channel on Thursday (24/4/2025).
**3. OJK: Intellectual Property Rights Can Serve as Loan Collateral**
The creative economy industry now has the opportunity to use Intellectual Property Rights (IPR) as collateral when accessing financing from financial institutions. Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar said that financial access for the creative sector continues to be expanded, with one breakthrough being the acceptance of IPR as collateral.
"It has indeed been recognised under existing regulations, and its implementation has become one of the considerations," Mahendra said at a press conference for the launch of OJK Infinity 2.0 and the signing of a memorandum of understanding between the Ministry of Tourism and Creative Economy/Creative Economy Agency and the OJK on Thursday (24/4/2025).
According to him, collateral is an important requirement in the lending process. Beyond collateral, financial institutions also consider the reputation and character of the borrower. Companies or individuals are also required to submit financial reports and projections of future financial conditions.