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< MSIT Paves the Way for Korean Businesses to Expand to Indonesia (August 28)>


▷MSIT Paves the Way for Korean Businesses to Expand to Indonesia (August 28) 

- MSIT Holds K-Solution Fair in Jakarta  


□ The Ministry of Science and ICT will hold K-Solution Fair@Indonesia at Ritz-Carlton Jakarta to support the entry of Korea’s promising ICT businesses into the ASEAN and Indian market from August 28 to 29.  


ㅇ K-Solution Fair is a biannual event hosted by Korea IT Cooperation Center in Singapore, a MSIT hub for the ASEAN region. The Fair provides opportunities to prominent Korean ICT companies having difficulties promoting their technologies and services in the region to demonstrate technologies and have business meetings with local buyers. 


□ K-Solution Fair is the first ICT marketing event to be held in Indonesia, an emerging ASEAN country boasting high growth rate and the fourth-largest population (260 million) as.  


ㅇ Other events will be also held on the sidelines of the main event, Asia IoT Business Platform, such as programs to identify local demand and one-on-one business meetings and site visits to local companies.  


□ Eight Korean ICT companies with superb technologies and service models in fintech, smart city, and e-commerce will form Korea ICT Pavilion during Asia IoT Business Platform and demonstrate outstanding technologies in e-payment platforms and intelligent cybersecurity.  


ㅇ Also, the MSIT will prepare plans for Korean companies to visit local companies to deepen their understanding on the Indonesian market and invite Indonesian companies willing to sign contracts or to collaborate with Korean companies to have one-on-one meetings.  


□ The Indonesian market is regarded as one of the most attractive markets for e-commerce and fintech businesses for its massive scale and high mobile penetration rate. Expectations are high among industry insiders as the Indonesian government is pushing forward with a large-scale smart city project. 

* (Number of Indonesia’s internet and mobile users) internet users: 132.7 million, mobile subscribers: 371.4 million, social media users: 106 million (We are Social, Jan 2017) 


ㅇ By using a platform that brings together the Indonesian government and businesses, the event is expected to be highly meaningful for Korean companies to produce tangible results and to establish networks in Indonesia. The Korean businesses have struggled for the lack of promotional opportunities and information.  

* Asia IoT Business Platform(AIBP): A local ICT business connection platform that owns the networks of ASEAN’s telecoms and government agencies and related sectors. 


□ An official from MSIT said that “Indonesia has the greatest potential among ASEAN countries and is also a key partner in the New Southern Area that is proactively preparing for the Fourth Industrial Revolution.” 


ㅇ “As promising Korean companies are expected to bring mutual and innovation-led growth in both markets by expanding into Indonesia, we will spare no effort in providing support to minimize their difficulties entailed in global expansion,” the official reiterated.