Kb Kookmin Bank's Business Diplomacy in Expansion To Indonesia Through PT Bank Bukopin
DOI:
https://doi.org/10.38142/jtep.v5i1.1247Keywords:
Business diplomacy, Bukopin Bank, Foreign Direct Investment, KB Kookmin BankAbstract
The South Korean banking sector is in the maturity stage or the phase where the domestic banking market is at its peak of growth. However, the South Korean domestic market of only 51 million people is not enough to increase banking profits so they need to seek markets from other countries in order to develop their businesses, including Indonesia. The study will discuss how the expansion efforts of South Korean banking MNCs with a case study focused on the purchase of Bank Bukopin shares by KB Kookmin Bank in 2020. The analysis of this study was conducted qualitatively-descriptively with the help of library study data sources and using the perspective of business diplomacy theory and Foreign Direct Investment (FDI). The results of the study concluded that planning by identifying the goals of the country's internal culture and environment is an important point for MNCs in expanding. In addition, MNC expansion also needs to take into account their future business projections because this is important for the sustainability of their business in their home country. They need to innovate and overcome the domestic challenges of the destination country so that they can achieve their targets to contribute to the country's economy.
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