Korean transport and logistics companies are focusing on Indonesia’s rapid digital economic growth.
Hanjin recently turned its Jakarta office into a corporation. According to the company, the decision is because the Indonesian e-commerce market is the largest and fastest-growing in Southeast Asia. Hanjin Indonesia is supposed to be in charge of air and sea forwarding from Indonesia to the United States, China, Europe, etc.
Indonesia is the biggest digital economy in Southeast Asia. According to Google, the digital economy of Indonesia topped US$77 billion at the end of last year and is expected to reach US$124 billion in 2025. This has to do with its high ratio of young population. Specifically, last year, the population of Indonesia was approximately 270 million, including almost half born between 1980 and 2000. The Indonesian e-commerce market reached US$38.3 billion in 2022 and is expected to reach US$48.3 billion next year.
Airlines are preparing to increase flights to and from the country. The number of Incheon-Bali passengers was 304,420 in 2018 and 396,645 in 2019, when that of Incheon-Jakarta passengers was more than 490,000. At present, Korean Air is the only South Korean airline that provides direct flight between Incheon and Bali.