Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(9)

Comparative Study on the Perception and Response of Singapore and Indonesia

As widely known, the ASEAN consists of 10 member states. 5 countries including Myanmar, Thailand, Laos, Cambodia and Vietnam are located in the continental ASEAN. 

Remaining 5 countries, Malaysia, Singapore, Indonesia, Brunei and the Philippines are positioned in the maritime area. Since its foundation slightly more than 50 years ago, the ASEAN has evolved into one of the most dynamic regions with speedy economic achievements.

 

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(17)

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia

They are Singapore and Indonesia in the maritime Southeast Asia. The two countries shouldn't be thought lightly of in any economic point of view in the region. Above all, Singapore has been acclaimed the most advance country with per capita GDP of 60,300 USD in 2017. 

In particular, Singapore is leading the region this year as it chairs the ASEAN summit and subsequent summits. In contrast with Singapore, Indonesia is ranked the first place in terms of the economic size. Indonesia has occupied as much as 40% of the regional GDP and has consistently beefed up its clout across Southeast Asia. 

High Time for Korean Startups to Ride on Digital Fever in Southeast Asia(4)

High Time for Korean Startups to Ride on Digital Fever in Southeast Asia

In addition, indigenous family conglomerates have joined the startup wave by setting up venture capitals and navigating business chances. This is no exception to Korean investment firms. 

As centered on Indonesia and Vietnam, two countries in the region respectively representing the maritime and the continental Southeast Asia, news of Korean venture capitals eagerly exploring lucrative investment opportunities are heard now and then. Why startup markets in Southeast Asia are much spotlighted?