Ministry of Trade, Industry and Energy Begins Establishing Master Plan for '2030 Busan World Expo'

Yoo Myung-hee, Head of the Planning Team for the '2030 Busan World Expo Bid' and Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy. / Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Moon Chaeseok] The government announced that it will officially begin establishing a master plan to host the 2030 Busan World Expo.

On the 19th, the Ministry of Trade, Industry and Energy announced that it has commissioned a master plan project worth 3.1 billion KRW.

The ministry judged that how creatively the bid dossier submitted to the Bureau International des Expositions (BIE) is prepared is crucial.

The intention to bid will be declared in November, the bid application will be submitted in May next year, and the bid dossier will be submitted in November next year.

To encourage as many companies as possible to participate in the bidding, the ministry will hold a pre-project briefing session in Busan at 2 p.m. on the 22nd.

During the briefing, a site inspection of the planned venue around Busan’s Bukhang area will be conducted to enhance companies’ understanding.

An official from the ministry said, "If Korea succeeds in hosting the 2030 World Expo, it will become the seventh country in the world to have hosted all three major events?Olympics, World Cup, and World Expo?greatly enhancing the national and regional brand," adding, "It will significantly contribute to the revival of the second economic zone including Busan and Gyeongnam and to balanced national development."

Earlier, the ministry reported the 'Busan World Expo Hosting Plan (draft)' to the State Council last year. Accordingly, the 2030 Busan World Expo Bid Planning Group, a pan-governmental dedicated bidding organization, was launched.

The planning group is headed by Yoo Myung-hee, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, and consists of 14 dispatched staff from four ministries and Busan City, organized into one division and three teams.