Editing Economy of Indonesia (section)

===South Korea===
In the past, the relations were only developed around trade and investments, such as the forestry and garment sectors. Today the cooperation has been expanded to a number of mega projects and advanced industries. With US$27 billion in bilateral trade, South Korea became the fourth biggest trading partner of Indonesia in 2012. It became the third-biggest foreign investor in Indonesia, with US$1.94 billion in investment.

There are large numbers of South Korean companies that have been investing and operating in Indonesia, such as Miwon (Daesang Corporation), [[Lotte Department Store|Lotte]], Yong Ma, [[Hankook]], [[Samsung]], [[LG]], [[Kia]] and [[Hyundai Group|Hyundai]]. In 2011, Hankook announced a US$353 million investment into a production plant located in Bekasi, West Java, Indonesia.<ref>{{Cite web|url=http://www.thejakartapost.com/news/2011/01/20/hankook-announces-us353-million-investment.html |title=Hankook announces US$353 million investment |author=Rangga D Fadillah |publisher=The Jakarta Post |url-status=dead |archive-url=https://web.archive.org/web/20110124161517/http://www.thejakartapost.com/news/2011/01/20/hankook-announces-us353-million-investment.html |archive-date=2011-01-24 }}</ref>

In 2019, trade between Indonesia and South Korea was worth $15.65 billion, and between 2015 and 2019 South Korean companies invested nearly $7 billion in Indonesia. In December 2020, Indonesia and South Korea signed a comprehensive economic partnership. It is equivalent to a [[free trade agreement]], though focuses on a broader scope of economic cooperation. Under the deal, Indonesia will scrap 94.8% of tariffs on South Korean products while South Korea will scrap 95.8% of tariffs on Indonesian products.<ref>{{Cite web|title=Indonesia, South Korea sign CEPA to boost trade, investment|url=https://www.thejakartapost.com/news/2020/12/18/indonesia-south-korea-sign-cepa-to-boost-trade-investment.html|access-date=2021-01-07|website=The Jakarta Post|language=en}}</ref><ref>{{Cite web|title=S. Korea, Indonesia Sign CEPA|url=http://world.kbs.co.kr/service/news_view.htm?lang=e&Seq_Code=158364|access-date=2021-01-07|website=world.kbs.co.kr|language=en}}</ref><ref>{{Cite news|date=2020-12-18|title=South Korea and Indonesia sign deal to boost trade, investment|language=en|work=Reuters|url=https://www.reuters.com/article/us-southkorea-indonesia-trade-idUSKBN28S0EZ|access-date=2021-01-07}}</ref>