National Prestige Upgrade: Government and Corporations Unite as One Team for 'Busan Expo'

World Cup and Olympics Followed by Hosting, Marking 7th Country to Hold 3 Major Global Events
Government Engages in Domestic and International Negotiations and Promotions... Fully Prepares for December BIE General Assembly
Utilizes Corporate Overseas Networks... Strives to Secure Support from Member Countries

[Sejong=Asia Economy Reporter Kwon Haeyoung] The government and companies are joining forces as one team to make an all-out effort to host the '2030 Busan World Expo.' If successful in attracting the Busan World Expo, South Korea will become the seventh country to host all three of the world's major big events: the World Cup, the Olympics, and the registered Expo. It is expected to create enormous economic added value worth 61 trillion won and upgrade the national prestige in various fields.

According to the government on the 17th, the Ministry of Trade, Industry and Energy reported on the '2030 Busan World Expo Hosting Promotion Status and Future Plans' at the Cabinet meeting held this week. Kim Youngju, the chairman of the hosting committee, attended the meeting and conveyed the hosting progress, competitor trends, future promotion strategies, and requests for cooperation from related ministries.

The government is preparing to host the Busan World Expo by dividing efforts into two main areas: domestic preparations to enhance hosting competitiveness and external negotiations and promotional activities.

Domestically, in terms of infrastructure, existing metropolitan and urban transportation facilities such as aviation, railroads, and roads will be expanded, and a smart transportation system will be established to improve convenience for tourists. New accommodation facilities will be supplied while existing facilities such as shared accommodations will be utilized to respond to peak times. The exhibition hall will be linked from the early stages with existing development plans such as the North Port redevelopment and the Expo plan.

There will also be organic cooperation with companies. The plan is to ensure that the vision, philosophy, and advanced technologies of Korean companies are well connected to the Expo theme. Through this, cooperation methods with companies will be sought so that hosting the Expo can lead to the growth of Korean companies.

Along with this, to secure nationwide support, public media promotions such as press contributions, interviews, advertisements, online promotions through social network services (SNS), and cultural event-linked events will be held to raise public awareness and responsiveness.

Externally, active hosting negotiations and promotional activities will be focused on. First, at the International Bureau of Expositions (BIE) General Assembly scheduled for December, presentations to member countries will be thoroughly prepared with expert advice in advance to ensure that the hosting preparation status and theme are well explained.

Customized hosting strategies by continent and country will also be developed. Differentiated strategies will be established for developing and developed countries by continent and country, and support from member countries will be requested by actively utilizing companies’ overseas networks.

Active hosting negotiation activities will also be conducted through overseas diplomatic missions, and efforts to secure support from BIE member countries will be made by dispatching joint public-private delegations.

A government official stated, "We will review and promote government support policies for hosting the 2030 World Expo Busan through the government hosting support committee in the future," adding, "We will gather private sector capabilities centered on the hosting committee to successfully lead the Expo hosting."

Earlier, the government officially submitted the hosting application to the BIE in Paris, France, in June. In July, the 2030 Busan World Expo Hosting Committee was launched, and about 80 key figures from various sectors including economy, culture, academia, and government, including Chairman Kim, were appointed as hosting committee members. Notably, the heads of the five major domestic groups?Samsung, Hyundai Motor, SK, LG, and Lotte?participate as vice chairmen, and most representatives of the top ten groups serve as members. This is expected to positively influence the BIE’s evaluation, which highly values companies’ contributions to human prosperity through Expo participation. The announcement of the Expo host city is scheduled for June 2023.