Comparative Analysis of Business Law in Special Economic Zones (SEZ): Case Study of Mandalika Special Economic Zone in Indonesia and International Free Economic Zone (IFEZ) Incheon South Korea

This study aims to analyze the comparative business laws applied in the Mandalika Special Economic Zone (KEK), Indonesia, and the Incheon International Free Economic Zone (IFEZ), South Korea. These two areas were chosen as case studies because they have similar goals in encouraging economic growth through fiscal incentives and more flexible regulations for investors. In this study, the method used is a qualitative approach with comparative descriptive analysis to identify differences and similarities in aspects of business regulations, investment policies, and legal protection for business actors in both areas. The results of the study show that although both areas offer policies that are beneficial to investors, there are significant differences in terms of legal structure, implementation of regulations, and supervision of compliance with the laws applied. The Mandalika Special Economic Zone has policies that focus more on developing tourism and the creative economy sector, while the Incheon IFEZ emphasizes the high-tech sector and the manufacturing industry. In addition, the comparison of taxation policies and fiscal incentives is also an aspect that distinguishes the two areas. This study is expected to contribute to the development of economic policies in Indonesia, especially in the context of managing Special Economic Zones, as well as providing insight for other countries interested in developing similar economic zones.