Exhibition Industry Requests Temporary Local Tax Relief and Support for Quarantine Management

Ministry of Industry Holds Exhibition Industry Meeting for COVID-19 Crisis Response

Na Seung-sik, Director General of Trade and Investment at the Ministry of Trade, Industry and Energy. (Photo by Ministry of Trade, Industry and Energy)

[Asia Economy Reporter Moon Chaeseok] The exhibition industry, hit hard by the novel coronavirus disease (COVID-19), has requested the government for temporary local tax reductions and support for quarantine management.

On the 4th, the Ministry of Trade, Industry and Energy held a meeting at the Korea Chamber of Commerce and Industry, chaired by Na Seung-sik, Director General of the Trade and Investment Office of the Ministry, with representatives from the exhibition industry and academic experts.

According to the Ministry, due to the impact of COVID-19, even global exhibitions such as Mobile World Congress (MWC) and Hannover Messe were canceled or postponed after March.

In South Korea, 50 domestic exhibitions have been canceled and 112 postponed so far, causing damages such as penalties and difficulties in operating funds.

Industry representatives including exhibition hall operators, exhibition organizers, design installation businesses, and service providers requested temporary local tax reductions and support for quarantine management during the meeting.

They also requested damage support for canceled exhibitions, support for attracting participating companies to exhibitions held in the second half of the year, and expansion of loan funds.

Na Seung-sik, Director General of the Trade and Investment Office at the Ministry of Trade, Industry and Energy, said, "We will do our best to reflect additional measures for supporting the exhibition industry’s damages and to ensure the industry does not lose vitality."