Indonesia and South Korea agreed to signs the much-awaited comprehensive economic partnership agreement (IK-CEPA) soon to minimize the economic fallout from the new COVID-19 pandemic. Last year, both countries has signed a preliminary agreement on the deal. Earlier, Seoul and Jakarta has a goal to signs the agreement in the first half of 2020. The two resumed their negotiations in 2019 after a hiatus of five years.

with the IK-CEPA, total trade value between Indonesia and South Korea could reach US$30 billion in 2022. In 2018, the statistics Agency noted, the value of Indonesia’ trade with South Korea reached US$18.62 billion, the sixth largest export destination and import source for the nation.