Key facts
- Japanese Prime Minister Sanae Takaichi will visit India from June 30 to July 2, accompanied by over 50 companies.
- South Korea will announce three major semiconductor production cluster projects, with Samsung Group expected as a key investor.
- A verdict is due in the corruption trial of former Indonesian Minister Nadiem Makarim, who faces charges of causing state losses and personal benefit from Google's investment in Gojek.
- Japan is set to reduce passport application fees while increasing visa issuance fees for foreign visitors.
- Indonesia will raise its mandatory palm oil-based biodiesel blend to B50.
Japanese Prime Minister Sanae Takaichi is scheduled to visit India from June 30 to July 2, aiming to strengthen economic and security ties amid growing Japanese investment in the country. Over 50 Japanese companies, including Suzuki Motor, Itochu, and Toyota Tsusho, will join the prime minister on the trip.
In South Korea, the presidential office is set to announce three significant "megaprojects" focused on developing a new semiconductor production cluster in the southwest. Samsung Group is anticipated to be a major investor in this initiative, aligning with the tech giant's strategy to expand chip production amidst a global boom.
Meanwhile, a verdict is expected in the corruption trial of former Indonesian Education Minister Nadiem Makarim. Prosecutors are seeking an 18-year prison sentence, alleging that his actions in procuring Google Chromebook laptops for a school digitization program caused $134 million in state losses and that he personally benefited from Google's investment in Gojek, a tech company he co-founded. Makarim has denied the charges.
Evergrande Property Services, a subsidiary of the embattled Chinese developer Evergrande, will hold its annual shareholders meeting in Guangzhou. The unit's shares recently dropped after negotiations for a sale of the business were terminated, impacting creditors' recovery prospects.
Japan will also implement changes to its border policies, including reducing passport application fees by up to half for its citizens and increasing visa issuance fees for foreign visitors for the first time in approximately 50 years. Departure taxes will also be raised.
Indonesia is set to raise its mandatory palm oil-based biodiesel blend to B50, requiring diesel sold domestically to contain 50% biodiesel. This policy aims to reduce fuel import costs and enhance energy security, with the government estimating savings of about $8.9 billion this year.