An Asiana Airlines Airbus A321-200, registration HL8004 performing flight OZ-707 from Seoul (South Korea) to Angeles (Philippines) with 166 passengers and 8 crew, was enroute at FL330 about 60nm north of Jeju Island when the crew received a cargo smoke indication and decided to divert to Jeju Island. The aircraft landed safely on Jeju Island about 18 minutes later. Emergency services did not find any trace of fire, heat or smoke. The airline reported no evidence of fire, heat or smoke was found in the cargo bay, the smoke detector probably was faulty. A replacement A321-200 registration HL8059 was dispatched to Jeju Island, resumed the flight and reached Angeles with a delay of 6 hours.