Korean-wave strengthens economic interdependence between Indonesia and South Korea though IK-CEPA cooperation=Korean-wave memperkuat interdependensi ekonomi antara Indonesia dan Korea selatan melalui IK-CEPA

Park, Ji Hee (2023) Korean-wave strengthens economic interdependence between Indonesia and South Korea though IK-CEPA cooperation=Korean-wave memperkuat interdependensi ekonomi antara Indonesia dan Korea selatan melalui IK-CEPA. Masters thesis, Universitas Pelita Harapan.

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Abstract

This research delves into the economic ties between Indonesia and South Korea, investigating the transformative journey from political interactions to a robust economic alliance. Central to this evolution is the phenomenon of the Korean Wave, or Hallyu, and its profound impact on shaping the economic interconnectedness between the two nations. Employing a qualitative methodology, this study thoroughly examines various facets of the economic interdependence fostered by the Korean Wave. The research findings reveal a compelling correlation between the popularity of Hallyu in Indonesia and a substantial surge in foreign direct investment (FDI) from South Korea, particularly in sectors influenced by the Korean Wave. Notably, the beauty industry emerges as a significant beneficiary, experiencing a remarkable boost as a direct consequence of the Hallyu phenomenon. Korean enterprises specializing in entertainment, cosmetics, and fashion witness notable expansion and establishment in the Indonesian market. The study underscores that the revival of the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) plays a pivotal role in consolidating and expanding economic ties. Acting as a well-organized platform, the IK-CEPA facilitates trade cooperation and investment, contributing to the symbiotic economic relationship between the two nations. Furthermore, the impact of Hallyu transcends cultural boundaries, fostering cooperative endeavors and alliances that extend beyond the realms of entertainment. Particularly, the beauty industry emerges as a prime example of this phenomenon, with the popularity of Korean beauty standards driving increased demand for Korean beauty products in Indonesia. / Penelitian ini menyelidiki hubungan ekonomi antara Indonesia dan Korea Selatan, mengkaji perjalanan transformatif dari interaksi politik menuju aliansi ekonomi yang kuat. Pusat evolusi ini adalah fenomena Korean Wave, atau Hallyu, dan dampaknya yang mendalam dalam membentuk keterkaitan ekonomi antara kedua negara. Dengan menggunakan metodologi kualitatif, penelitian ini menyelidiki berbagai aspek ketergantungan ekonomi yang dibentuk oleh Korean Wave. Hasil penelitian menunjukkan korelasi yang kuat antara popularitas Hallyu di Indonesia dan lonjakan yang signifikan dalam Foreign Direct Investment (FDI) dari Korea Selatan, terutama di sektor-sektor yang dipengaruhi oleh Korean Wave. Terutama, industri kecantikan muncul sebagai penerima manfaat signifikan, mengalami peningkatan luar biasa sebagai konsekuensi langsung dari fenomena Hallyu. Perusahaan Korea yang mengkhususkan diri di bidang hiburan, kosmetik, dan fashion mengalami ekspansi dan pendirian yang signifikan di pasar Indonesia. Penelitian ini menekankan bahwa penyelenggaraan kembali Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) memainkan peran penting dalam konsolidasi dan perluasan hubungan ekonomi. Sebagai platform yang terorganisir dengan baik, IK-CEPA memfasilitasi kerja sama perdagangan dan investasi, berkontribusi pada hubungan ekonomi simbiosis antara kedua negara. Selain itu, dampak Hallyu melampaui batas-batas budaya, mendorong usaha-usaha kerjasama dan aliansi yang meluas di luar ranah hiburan. Khususnya, industri kecantikan muncul sebagai contoh utama dari fenomena ini, dengan popularitas standar kecantikan Korea mendorong peningkatan permintaan untuk produk kecantikan Korea di Indonesia.

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