Lack of Cooperation Between Indonesia and South Korea IK-CEPA

IK-CEPA (Indonesia-Korea Comprehensive Economic Partnership Agreement) is a trade agreement between Indonesia and South Korea. The agreement is designed to deepen economic cooperation and has the potential to benefit various sectors. For the local electronics industry in Indonesia, IK-CEPA can encourage the development of local component manufacturers as a backup for South Korean electronics companies. The agreement also involves the reduction or elimination of tariffs on trade in goods, which could provide particular advantages for both countries. In addition, the agreement is seen as an important step in strengthening economic ties between Indonesia and South Korea. Despite expectations and potential benefits, some concerns and uncertainties remain, such as the need for South Korean companies to actively engage and the impact of other related policies, such as the Omnibus Law, in attracting investment and supporting local industries.