Seoul City to Invest a Total of 3.9 Billion Won in the MICE Market This Year

Support for 7 Sectors to Secure Market Leadership

[Asia Economy Reporter Kiho Sung] The Seoul Metropolitan Government has announced the ‘Seoul MICE Industry Development Plan’ to support the hosting of various international events in Seoul, marking this year as the first year of recovery for the MICE market. The plan aims to capture the increasing demand for MICE events in the post-COVID-19 era.

First, a total of 3.9 billion KRW will be provided to support MICE events held in Seoul this year across seven sectors. The seven sectors are ▲International conference support ▲Selection and support of exhibitions by growth stage ▲Corporate meetings and incentive tourism support ▲Seoul MICE Safe Zone support ▲Free support for the 3D virtual meeting platform ‘Virtual Seoul’ ▲MICE support linked with other cities and provinces ▲Unique venue support.

Seoul will also take the lead in practicing sustainable MICE. A ‘sustainable MICE’ clause has been newly added to all MICE support selection and evaluation criteria, and pilot events will be designated to measure carbon reduction rates and social contribution levels. Seoul’s commitment to sustainable MICE is expected to contribute to building its image as a leading global MICE city.

Kim Young-hwan, Director of the Seoul Tourism and Sports Bureau, stated, “Despite the COVID-19 pandemic, Seoul has risen to become the ‘world’s second-largest international conference host city’ and the ‘world’s best MICE city for eight consecutive years’ based on close cooperation with the industry.” He added, “We will spare no effort to provide comprehensive support so that many international events can be held in Seoul in the future, allowing the city to grow as a leader in global MICE trends.”