Korea JoongAng Daily - Daily News from Korea

This article is by Oh Hyo-jeong and read by an artificial voice.

The number of people in Korea focusing on their mental health is rising. In response, insurance firms are rapidly launching new products that cover mental illness.

Coverage is also diversifying beyond depression to include panic disorder and eating disorders.

Kyobo Lifeplanet Life Insurance recently launched a separate insurance product for panic disorder and burnout. The policyholder, in the case of a 30-year-old woman, would pay a one-time premium of less than 4,000 won ($2.66). If she is diagnosed with the relevant condition within a year after the payment, a one-time payout of 100,000 won will be provided to the policyholder.

The burnout policy is designed to pay out if the insured is definitively diagnosed with a depressive episode. A depressive episode refers to a condition in which depressive symptoms continue for at least two weeks. Typical symptoms include feelings of emptiness, lethargy, chronic fatigue and changes in sleep and appetite.

Hanwha Insurance introduced a rider for its women's insurance product that covers examination fees and hospitalization costs for sleep disorders and eating disorders caused by stress.

Children's insurance is also being designed with increasing focus on mental health.

Diagnostic coverage for conditions such as attention deficit hyperactivity disorder and post-traumatic stress disorder, which children may experience as they grow, is being offered by Hyundai Marine & Fire Insurance, Meritz Fire & Marine Insurance and Samsung Fire & Marine Insurance.

Depending on the rider, treatment costs for schizophrenia, obsessive compulsive disorder and panic disorder may also be covered. Indemnity health insurance policies purchased after 2016 also cover insured treatment costs for major mental illnesses.

Insurers have moved to develop such products as mental health has recently emerged as a major social issue.

"Deteriorating mental health is leading to a range of social problems, including delayed employment, career interruptions and lower labor productivity," Kim Kyung-sun, a research fellow at the Korea Insurance Research Institute, said. "Insurers need to develop products and provide preventive services to promote mental health and respond to consumer demand."

A limitation is that most insurers' mental health-related products still stop at diagnosis benefits.

The industry says there is not yet enough accumulated policyholder data to actively extend coverage to treatment costs or hospitalization expenses.

"Because mental illnesses are difficult to cure completely, treatment and hospitalization can be prolonged, which makes it hard to measure loss ratios precisely," an insurance industry representative said.

"It is also true that there are concerns about moral hazard because it is difficult to verify whether a policyholder had an untreated mental illness at the time of enrollment if that was not disclosed."

Diagnoses can vary depending on a physician's subjective judgment, and conflicts may also arise between insurers and policyholders in the process of proving whether a claim is justified.

In fact, DB Insurance's Mental Care Health Insurance, which drew attention last year for covering hospitalization and outpatient expenses across a broad range of illnesses, is currently off the market temporarily while it undergoes reorganization.

Even so, experts say an expansion of coverage through public and private insurance is inevitable as consumer demand for mental health-related coverage grows.

"For some mild mental illnesses, public health insurance coverage is limited, making it difficult to receive needed treatment, and even for severe patients, public insurance support has limits during long-term hospitalization, so the scope of coverage remains restricted," Kim said.

"The public and private sectors need to work closely together."

Diversifying insurance products tailored to specific groups — such as people in their teens and 20...

The author is a former emeritus professor of history at Konkuk University.

Watching an elderly woman dozing on the floor of a crowded hospital ward as she tends to her ailing husband, one cannot help but wonder what marriage truly is. Even after decades of life, the answer remains elusive. At such moments, the words of Francis Bacon (1561-1626) come to mind, a figure familiar for the phrase "scientia est potentia" — knowledge is power.

Born into a prominent family, Bacon was the son of a Lord Keeper of the Great Seal, yet he was frail from childhood. After traveling through France, Spain and Italy, he came to believe that knowledge arises from experience rather than contemplation. Educated at the University of Cambridge, he later entered Parliament representing his alma mater, at a time when universities themselves served as constituencies and graduates held two votes.

Despite his background, Bacon sought advancement through marriage. At 45, he married a 13-year-old court attendant. The imbalance in age was stark. As he grew older, his young wife reportedly engaged in affairs. Bacon initially ignored this but ultimately excluded her from his will.

A lawyer, he rose to hold multiple positions of power in an era before the separation of powers was established. He served as a senior judge, speaker of Parliament and a leading government figure. However, he faced 23 charges of corruption, all of which he admitted. After imprisonment in the Tower of London, he was released but spent his later years in debt, dying of pneumonia.

Reflecting on his marriage, Bacon remarked: A wife should be like a lover in youth, a companion in middle age and a nurse in old age.

Today, such a view may invite criticism, especially from those who reject traditional gender roles. It can sound as if a wife exists only to serve. Yet from another perspective, it reflects a longing for a partner who remains close through life's changing stages.

Seen this way, Bacon's words reveal not authority but vulnerability — the dependence that comes with aging and shared life.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

The author is an adviser at Optus Asset Management.

In advising on retirement finances, housing often emerges as the central issue. Consider a client living in a large apartment with an adult child and their spouse, while still carrying a mortgage. Monthly principal and interest payments leave little room for daily expenses.

A clear financial solution exists: Sell the home, repay the debt, allow the child's family to move out, downsize to a smaller apartment and supplement income through a reverse mortgage. On paper, the plan is straightforward. In practice, it is not. The obstacle is familiar — the mind understands, but the heart does not move.

At the core of this hesitation lies the concept of sunk cost. A sunk cost refers to an expense that has already been incurred and cannot be recovered. Once paid, it should no longer influence decision-making. Yet in reality, people often cling to past investments. A simple example illustrates this. After purchasing a movie ticket, if the film turns out to be disappointing, many people choose to stay because they feel the ticket price would be wasted otherwise. The rational decision, however, is to leave and spend time on something more rewarding. The cost of the ticket is already irretrievable.

A person who makes decisions based solely on future benefits, without regard to past expenditures, is one who is free from the sunk cost fallacy. Daniel Kahneman (1934-2024), a Nobel Prize–winning economist, emphasized this principle throughout his work. He died at the age of 90 and is reported to have chosen assisted death. Kahneman, who often spoke of living a "zero sunk cost" life, appears to have made his final decision by focusing entirely on the quality of the years ahead rather than the weight of his past achievements. Having witnessed the long and difficult course of his spouse's dementia, he may have assessed the likely disutility of his own remaining years. In that sense, his decision can be likened to leaving a film midway through rather than enduring it to the end.

The importance of sunk cost becomes even more pronounced during the transition from the active years of life to retirement. After retirement, the focus of financial life shifts from the size of one's assets to the stability of cash flow. Among the many decisions that arise at this stage, housing is one of the most consequential. Yet many households approach this decision not by looking ahead, but by looking back.

Consider a household that has lived for more than two decades in a metropolitan area. Their home is layered with history. Years of restrained consumption to repay mortgage loans, choices made to secure better educational environments for children, relationships formed with neighbors over decades and accumulated spending on repairs and expansions all contribute to its meaning. The home is not merely a financial asset but a repository of lived experience. It is precisely at this intersection of memory and money that errors in judgment often occur.

In retirement, the guiding questions must change. Instead of asking what has been invested in the home, one must ask whether continuing to hold the home will provide benefits for the years ahead. Another useful question is this: If one were to make a housing decision today, would one purchase the same home at its current market price with cash? These questions deliberately exclude the past. They are designed to force a forward-looking perspective.

Opportunity cost is another critical factor that becomes more visible in later life. Compare two scenarios: living in a home worth 2 billion won ($1.4 million), or living in a home worth 1 billion won while holding the remaining 1 billion won as financial assets. In the latter case, the financial assets could generate returns. At a 5 percent annual return, that amounts to 50 million won in income each year. Choosing the more expensive home effectively means giving up that income. This forgone return represents the opportunit...

The author is a professor of communications at Seoul National University.

Discussions about artificial intelligence are everywhere in Korea. Seminars and lectures on how to use AI are multiplying. Some expert assessments suggest that current AI systems operate at an equivalent of an IQ of 120 to 130, well above average human intelligence. With such powerful tools in hand, the opportunity cost of spending time acquiring and processing information independently has risen sharply.

Korea's rapid embrace of AI reflects its longstanding dynamism. Much like the swift expansion of high-speed internet in the late 1990s, there is now a sense of urgency to integrate AI across all sectors. Yet the question remains whether education should follow the same pace. Unlike other fields, mistakes in education cannot easily be undone.

A recent experiment by Anthropic, which developed the AI model Claude, offers a useful insight. Participants were divided into two groups and given coding tasks, with only one group allowed to use AI. As expected, the AI-assisted group completed the tasks more quickly. The more revealing result came in a follow-up experiment. When both groups were later allowed to use AI, the group that had initially worked without assistance outperformed the other.

The explanation is simple. Those who struggled through the first task without technological help developed stronger problem-solving skills. Their independent efforts enhanced their capacity to think and adapt. The result suggests that prolonged reliance on AI can hinder learning, much like trying to learn to ride a bicycle while depending too long on training wheels.

These findings highlight the need for a careful approach to introducing AI in education. Unlike in other sectors, speed alone should not be the priority. Policymakers and educators must strike a balance between encouraging AI proficiency and preserving motivation and intellectual curiosity. True AI literacy includes knowing when not to use AI.

Another concern is that rapid adoption of AI in education could deepen existing inequalities. Korea once led the world in high-speed internet access and there was widespread belief that computer education was essential to prevent students from falling behind. At the same time, the experience revealed unintended consequences. Without proper guidance or digital literacy, some children became overly dependent on online games or developed unhealthy usage patterns.

This history offers a clear lesson. The impact of technology depends less on its adoption than on how it is used. The same principle applies to AI. Simply introducing the technology into classrooms does not guarantee better learning outcomes.

There is also concern about how AI's instant-answer model may interact with Korea's exam-driven education system. Students are expected to develop persistence and critical thinking by solving problems and learning from mistakes. Yet if assignments produced with minimal input through AI receive higher evaluations, students will feel compelled to use such tools.

Parents face a similar dilemma. Even if they worry about the long-term effects of AI on their children's cognitive development, they may feel pressured to subscribe to expensive AI services to keep their children competitive. The structure of the education system, which emphasizes test performance and college entrance exams, leaves little room for individual choice. If AI is layered onto a system already criticized for rote learning, excessive memorization and an obsession with correct answers, the result could be a further narrowing of thinking and a decline in overall intellectual diversity.

Efforts to train AI talent, establish specialized schools and develop teacher capacity are all necessary. However, public resources are limited and priorities must be carefully set. It is worth asking whether adding AI-related initiatives on top of an already strained education system truly benefits future generations. When...

The United States and Iran agreed Tuesday to a two-week temporary cease-fire mediated by Pakistan. It is a relief that tensions stopped short of catastrophe, after a standoff that escalated with warnings from U.S. President Donald Trump that "an entire civilization could disappear" and Iran's defiant brinkmanship. Direct negotiations aimed at ending the conflict are scheduled for Friday in Islamabad. There is cautious hope that this fragile opening will lead to a full cease-fire.

About 2,000 vessels, including 26 Korean ships, remain stranded in the Strait of Hormuz awaiting passage. Strict controls imposed by Iranian forces and pre-approval procedures are expected to create severe bottlenecks.

Prolonged delays have already worsened conditions on board, with some ships facing shortages of fuel and food. The government should work with Pakistan and other relevant parties to ensure the safe and timely return of Korean vessels.

The more fundamental challenge, however, lies in what follows the cease-fire. Even if the strait reopens, it remains unclear whether free navigation will be restored. Shortly after announcing the cease-fire, President Trump suggested on social media that the United States would help ease congestion and that Iran could begin reconstruction while generating revenue. His remarks have been interpreted as suggesting possible acceptance of Iran's proposal to impose transit fees on vessels passing through the strait.

The issue of transit fees is already being discussed among Middle Eastern countries. Meanwhile, a United Nations Security Council resolution affirming freedom of navigation in the Strait of Hormuz failed due to opposition from China and Russia.

If the strait effectively becomes a toll route controlled by specific countries, it would impose a heavy burden on Korea, which relies on the passage for more than 70 percent of its energy imports.

The situation is no longer distant. While supporting efforts to end the conflict, the government must also prepare for a restructuring of the maritime order in the postwar period. Korea should work with the International Maritime Organization to uphold free navigation and assert its rights as a major user of the strait.

The next two weeks will be critical. Korea must mobilize all available diplomatic resources to protect its national interests.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

This article is by Shin Ha-nee and read by an artificial voice.

An unlikely rock band has arrived on the K-pop scene — bringing together a Berklee student, a former DJ and a "three-year-old" star drummer all under one name: hrtz.wav.

"Each of us has such a distinctive style that we could easily have clashed," said vocalist Riann during the band's debut showcase held in western Seoul on Wednesday, ahead of the release of its first EP, "The First Wave."

"But just like different colors come together to create a rainbow, we naturally found harmony — so I don't think we had that much difficulty working as a team."

Pronounced as "hearts wave," the band was formed through Mnet's band audition program "Steal Heart Club," which aired from October to December last year. The program was produced in collaboration with Kakao Entertainment, which now manages the band.

The five members each won first place in their respective positions on the show: keyboardist Youn Young-jun, who has been active as a DJ before competing on "Steal Heart Club"; vocalist Riaan; bassist Dane; guitarist Keiten, a performance major at Berklee College of Music; and star drummer Hagiwa, who had already established a significant following on social media even before joining the audition program.

Hagiwa, in particular, stands out for his unique stage persona in which he says was born three years ago in "Hagiwa World," located somewhere in Japan. Hagiwa is known for his cheeky and playful stage demeanor, always appearing in a mask and a rabbit-eared hat and speaking in an altered voice.

"Ever since Hagiwa was born three years ago, the only thing Hagiwa has had in mind was making everyone in this world happy with music," Hagiwa said in his signature altered voice — enabled with a special microphone — while referring to himself in the third person.

He acknowledged concerns that his distinctive persona might stand out too much in a group setting.

"Though it's true there were worries before deciding to compete on 'Steal Heart Club,' Hagiwa thought that he should overcome those fears," the drummer said.

As viewers connected with his music and style through the program, Hagiwa added, "Now Hagiwa wants to give joy to people not only as Hagiwa from Hagiwa World but also as a member of hrtz.wav."

"Even if it may not seem that way at first glance, we actually get along really well, like a family," said Dane, in support of his bandmate. "So we'd really appreciate if everyone could show Hagiwa lots of love and support."

The band's debut EP, "The First Wave," features six songs: lead track, "Nineteen," along with B-sides "Dream," Highlight," "I am so fine," "Outta my mind" and "Close To Me."

"Nineteen" is a pop rock track centered on memories of being 19 years old, with all five members credited with writing the lyrics.

The band's name combines the words hearts, hertz and wave, signifying the group's ambition to create a new wave in music, an idea proposed by Keiten. And true to its name, the band says it hopes to bring a fresh wave to the scene.

"You should always dream big, right?" said Dane. "So my personal dream is for us to become a band that leaves a lasting mark on the music scene."

This article is by Ko Suk-hyun and read by an artificial voice.

Subsidies for EVs have been depleted in some localities far faster than expected this year as demand surges due to price cuts by automakers and rising oil prices, according to the Korea Automobile & Mobility Association on Wednesday.

Although applications for local government subsidies only opened in early February, funds for passenger EVs had already run out in 45 of the country's 160 municipalities, and subsidies for commercial EVs were exhausted in 54 municipalities.

Even in areas where subsidies are still available, funds are close to depletion. Ninety percent of available subsidies for passenger EVs have already been distributed in 60 municipalities, while those for electric trucks have reached that threshold in 67 municipalities.

The rapid exhaustion of funds comes amid a sharp rebound in demand for EVs. Sales reached 83,000 units in the first three months of this year, up 150.9 percent from the same period a year earlier.

Although sales of EVs slowed down in 2023 and 2024, the market began recovering last year, with annual sales rising 50.1 percent to 220,000 units in 2025.

Automobile industry insiders attribute this year's surge to a combination of aggressive pricing strategies and spiraling energy costs.

Carmakers, including Kia, Volvo and Tesla, have lowered prices, and China's BYD has intensified competition with low-cost models.

At the same time, rising global oil prices due to the wartime closure of the Strait of Hormuz, through which Korea imports 70 percent of its petroleum, have made electric vehicles more attractive to consumers.

"As of April 2, subsidy applications had reached 71.3 percent of the allocated volume for passenger EVs, or 65,327 units, and 85.6 percent for commercial EVs, or 15,199 units," said Kim Kyung-yu, a senior researcher at the Korea Institute for Industrial Economics and Trade. "Additional funding is necessary to ensure that increased demand can translate into actual adoption of EVs."

Consumer advocates also warned of widening inequality in subsidy support across regions.

"Municipal-level shortages should not create disparities among consumers," said Lim Ki-sang, the head of a civic group that advocates for better road and automobile regulations. "Supplementary measures are needed so that buyers can receive support without disruption."

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

This article is by Seo Ji-eun and read by an artificial voice.

Former Japanese Prime Minister Shigeru Ishiba called Wednesday for the "urgent" creation of a permanent trilateral nuclear consultative framework among South Korea, the United States and Japan, arguing that conventional deterrence has become ineffective in the face of North Korea's advancing nuclear capabilities.

Ishiba made the remarks during his keynote address at the Asan Plenum 2026, the annual international security forum hosted by the nonprofit think tank Asan Institute for Policy Studies at the Grand Hyatt Seoul. This year's forum took place under the theme "Modernizing Alliances."

"There is no mechanism of controlled mutual deterrence between the United States and North Korea such as the mutually assured destruction (MAD) that existed between the United States and the Soviet Union," Ishiba said through an interpreter.

He argued that because Pyongyang places regime survival above all other considerations, the threat of retaliation carries little weight.

"Punitive or retaliatory deterrence is unlikely to function against such a country," he said, urging allies to pivot instead toward what he called "denial deterrence" — the physical capability to intercept and neutralize incoming attacks before they reach their targets.

Acknowledging growing public sentiment in South Korea in favor of an independent nuclear deterrent — citing an Asan institute poll in which support topped 70 percent — Ishiba said existing bilateral extended deterrence arrangements were no longer sufficient to ease regional anxieties.

He proposed a standing three-way framework in which South Korea, the United States and Japan could hold ongoing consultations on nuclear strategy and communication.

"To enhance this credibility, I believe we should urgently establish a framework for ongoing discussion and communication not only between the two countries but also among the three countries [...] always to discuss and to communicate about this," he said.

The proposal represents a significant escalation beyond the 2023 Washington Declaration, under which Washington and Seoul established a bilateral consultative mechanism on nuclear planning. Ishiba's framework would bring Tokyo formally into that conversation for the first time.

The former prime minister also raised questions about South Korea's ambitions to acquire nuclear-powered submarines, saying Tokyo was watching the debate closely and wanted to understand its strategic intent — including how Seoul envisions operating such vessels in relation to both North Korean and Chinese submarine activity, and how Beijing might respond.

Ishiba also highlighted what he described as the most dangerous scenario facing the region: a simultaneous crisis on the Korean Peninsula and in the Taiwan Strait.

"It is entirely conceivable that North Korea might take some action to divert U.S. forces, which would also serve China's interests," he said. "We must deepen our strategic cooperation at all costs to avoid such a situation."

Addressing the immediate economic threat, Ishiba also called for a united front at the United Nations to tackle the ongoing energy blockade.

"The fighting in Iran must be brought to an end as soon as possible [...] it is a threat to world peace," he said, stressing that Seoul and Tokyo should jointly "base our actions on UN resolutions" to ensure the stability of global oil supplies.

Ishiba, a sitting member of Japan's House of Representatives and one of Tokyo's most prominent pro-Korea politicians, met President Lee Jae Myung for a working lunch later in the day.

Lee and Ishiba, as then-prime minister, had worked to revitalize summit-level "shuttle diplomacy" between Seoul and Tokyo, resulting in holding three summits together and, in 2024, the two countries issued their first joint summit statement in 17 years.

Addressing the forum via video message, U.S. Sen. Roger Wicker, chairman of the Senate Armed Services Committee, warned agai...

This article is by Shin Ha-nee and read by an artificial voice.

Boy band Ampers&One channels its inner Saja Boys — the fictional boy band from Netflix's hit animated film "KPop Demon Hunters" (2025) — with "God," its latest sonic makeover combining traditional Korean motifs with what the group describes as a trendy "Joseon Dynasty [1392-1910] hip-hop sound."

"The lead track, 'God,' has an intense Asian flair built on top of a trendy trap beat, which I think can be described as Joseon Dynasty hip-hop," said leader Kamden during a press showcase at Nodeul Live House in Yongsan District, central Seoul, on Wednesday, ahead of the release of its fourth EP, Definition," at 6 p.m. that day.

"We chose 'God' as the lead track because we wanted to take a chance on it," said member Mackiah. "By taking on a new challenge with this song, we became stronger and closer as a team."

Ampers&One debuted in November 2023 under FNC Entertainment as a septet consisting of Kamden, Brian, Jiho, Siyun, Kyrell, Mackiah and Seungmo. The members come from diverse cultural backgrounds, as Kamden and Kyrell are from the United States, Brian from Canada, Machiah from Australia and Jiho, Siyun and Seungmo from Korea.

"Definition," which comes eight months after the group's third EP "Loud & Proud" (2025), reflects on the members' journey so far while setting a new direction for what lies ahead.

The album features six songs: the lead track "God" and B-sides "Hit Me Up," "What You Talking About," "My Way," "All Eyes on You" and "Tears in Your Smile." Kamden and Mackiah are credited for lyrics on all six tracks.

"God" is a dance-pop song marked by its traditional influences, most notably the distinctive string sounds of gayageum (plucked zither). Its title is a wordplay using the Korean word gat, referring to the traditional Korean hat also worn by the Saja Boys.

Like the Saja Boys, who were demons disguised as humans, Ampers&One leans into a dark, mysterious mood for this album — as if seeking salvation from a god — both sonically and visually. The choreography also draws heavily from traditional inspirations, as Jiho begins the dance with a traditional Korean fan in hand.

The group will hold its first Seoul concert, titled "Born To Define," on May 2, ahead of its second U.S. tour following last year's "My First_" series. The group held its first fan concert, which is a combination of a fan meet and greet and a concert, in Seoul last November.

"I'd really like people to think, 'Ampers&One is really good on stage,'" said Kamden. "It's our first full-fledged concert, so I want to surprise people in a new way."

This article is by Sarah Chea and read by an artificial voice.

As recurring conflicts continue to disrupt the flow of Middle Eastern crude, Korea's refiners have been moving decisively to curb their dependence on the region. And one of the most consequential initiatives has been exploring oil in Indonesian blocks.

Indonesia has pledged not only sustained incentives but also expedited approvals to support these efforts, said Anindya Novyan Bakrie, chairman of the Indonesian Chamber of Commerce and Industry.

"In 2025, Indonesia awarded five oil and gas blocks, including projects involving Korea's SK Earthon, as part of a broader effort to improve energy security," Bakrie said in a written interview with the Korea JoongAng Daily.

"To attract more Korean investment, what the private sector values most is not only incentives, but consistency on faster permitting, clearer commercial terms, infrastructure readiness, and confidence that projects can move from announcement to execution."

SK Earthon, the upstream arm of SK Innovation, last year acquired a stake in Indonesia's North Ketapang block, becoming its second-largest shareholder. Situated off the northeastern coast of Java, the block is widely regarded as a high-potential site for crude discovery.

Nearby areas have recently delivered successive discoveries from untapped formations beyond established reservoirs, highlighting significant additional reserve potential.

SK has also previously invested in the Serpang and Binaiya blocks in Indonesia.

Bakrie also emphasized that the nation is opening more space for partnership.

"Early-2026 reporting referred to around 75 new oil blocks, while March reporting said 10 blocks would be offered as part of a broader pipeline of 110 potential exploration areas," he said.

"The broader point is that Indonesia wants faster execution, technology investment and strategic partnership between government and the private sector."

The chairman also underscored the importance of partnerships with Korean firms in the EV and battery sectors, despite a broader downturn in the global clean-vehicle market.

Hyundai Motor in 2022 completed a $1.55 billion manufacturing plant in Bekasi, West Java, its first full-scale production site in Southeast Asia. Designed with an annual capacity of 150,000 units, the facility has operated at roughly half that level, a figure now expected to slip below 60,000 amid export disruptions to the Middle East and tariff headwinds in Mexico.

Sales have also been cut sharply, as competitively priced Chinese EVs flood the Indonesian market. Hyundai's wholesale sales in January and February fell 30.2 percent on year to 3,166 units, with market share declining from 3.4 percent to 2.1 percent, according to the Indonesian Automotive Industry Association. Production has mirrored the slowdown, dropping 21.5 percent to 9,180 units.

By contrast, BYD, China's leading EV maker, saw sales surge 279.3 percent to 9,532 units over the same period. New entrant Jaecoo quickly climbed to 7th place with 5,030 units.

"Indonesia still sees Hyundai as a strategic long-term partner, but the answer is not permanent protection, but a fair and predictable framework that rewards companies that localize production, build suppliers, train people, and export from Indonesia," Bakrie said.

"Hyundai Motor Indonesia has publicly said its efforts to expand Indonesia's EV ecosystem are backed by a $3 billion investment and strategic partnerships," Bakrie added. "We support Hyundai, but we support it most strongly as an industrial partner helping to build the Indonesian EV ecosystem, not just selling into it."