Daegu EXCO Achieves Record High Performance ... 2019 Events and 32.8 Billion KRW Revenue Last Year

Regional Economy and Culture Hub

MICE Industry Infrastructure

EXCO has established itself as a key player in revitalizing the local economy and culture by achieving record-breaking business performance last year.

On the 26th, EXCO announced, “At the recent board meeting where performance results were reviewed and approved, we recorded the highest-ever achievements in all areas, including sales revenue, operating profit, and the number of events held.”

In 2022, EXCO hosted 2,019 events, generating sales revenue of 32.8 billion KRW and an operating profit of 1.3 billion KRW. Compared to 2021, sales revenue increased by 8.4 billion KRW, and operating profit was more than four times the record-high 300 million KRW achieved in 2019, the year EXCO was established.

The exhibition hall utilization rate also reached 52.3%, a remarkable achievement considering the exhibition space doubled in 2021 due to expansion, and within two years, over 50% of the space was actively used.

This is particularly significant when compared to the national average, where it typically takes seven years for exhibition and convention centers across the country to recover their overall utilization rate to 50% after expansion. EXCO’s exhibition hall was revitalized within just two years of expansion.

Daegu EXCO.

Last year, EXCO attracted attention as a complex cultural space for citizens by expanding landscaping and installing scenic lighting around the EXCO area, based on budget savings from the special demand generated by the World Gas Conference and the management innovation plan announced in September. This contributed to a 1.6-fold increase in cultural event sales revenue compared to 2021.

Additionally, in October and November, the Korea Safety Industry Expo and the International Agricultural Machinery and Materials Expo, both hosted by the central government, were successfully held in succession, solidifying EXCO’s status as an optimal venue for large-scale exhibitions.

In 2023, EXCO plans to host a record 125 exhibitions featuring a wide range of consumer and industrial goods as a platform for business exchanges to revitalize the local economy, with an expected exhibition hall utilization target of 55%.

Visitor numbers for exhibitions held in January and February have increased by more than 20% compared to last year, raising expectations for the revitalization of the local exhibition and convention industry.

The increase in exhibition visitors is expected to lead to larger event scales and the attraction of new exhibitions, which will have a significant ripple effect on the local community.

EXCO is also expanding the scale of exhibitions related to Daegu’s five major future industries.

The International Green Energy Expo, the largest domestic exhibition in the eco-friendly energy sector, is celebrating its 20th anniversary this year. The event will increase in size by 30%, with over 20% more participating companies, showcasing the latest technologies in renewable energy fields such as solar power, hydrogen, and fuel cells, attracting attention from domestic and international companies and institutions.

Sang-gil Lee, CEO of EXCO.

The Daegu International Future Mobility Expo will expand by more than 50%, combining intelligent automotive parts and urban air mobility (UAM) sectors, which Daegu is fostering as a leading city for autonomous driving and UAM. The Medi Expo and Advanced Medical Device Industry Exhibition will focus on supporting the digital transformation of the local healthcare industry and its entry into the global market, and will be held throughout the EXCO East Hall.

The ICT Convergence Expo and Robot Industry Exhibition will also expand the robotics sector with ABB, and special zones for startups and promising companies will be operated to propose the latest trends and new ideas, along with expanded export consultation meetings to explore new markets.

Furthermore, EXCO will continue to attract government policy-related exhibitions held in the metropolitan area, such as the Korea Industrial Technology R&D Expo hosted by the Ministry of Trade, Industry and Energy, and the Land and Transport Technology Expo hosted by the Ministry of Land, Infrastructure and Transport. This will help local companies share core industrial development policies and future strategic technologies, enhancing their competitiveness.

Additionally, the Made in Daegu Festa, where excellent products from Daegu companies can be seen in one place, is newly planned and will be held at EXCO.

In December last year, EXCO held a meeting with local MICE industry stakeholders to listen to on-site difficulties and suggestions and discuss ways to achieve mutual growth.

This year, EXCO plans to operate various support systems to encourage local organizers to hold exhibitions and develop new exhibitions, including providing temporary office space, supporting EXCO promotional networks, and assisting new exhibition development through sharing ideas and success cases. They also agreed to cooperate in conducting thorough safety inspections and accident prevention training to create a safe viewing environment.

EXCO will continue to hold meetings to revitalize the local MICE industry, laying the foundation for the local MICE sector to grow together and expecting a steady development of more diverse events.

The ‘EXCO Surrounding Attractions Project’ to transform the area into a complex cultural space, which began in September last year, will also continue.

EXCO, which created a street of light by installing free performances alongside the autumn chrysanthemum exhibition in the outdoor plaza, as well as winter lighting and sculptures, will participate this year in the 2023 Living Forest Creation Project supported by the Korea Forest Service and Daegu City.

EXCO plans to create an indoor garden for visitors to exhibition halls and conference rooms this year. Furthermore, the surrounding 10,000㎡ area will be developed into a pleasant walking street and a large plaza, transforming it into a space that citizens can enjoy year-round.

A green resting area will be created on the road between the East and West exhibition halls, and a sky bridge crossing the East and West halls will be installed to facilitate convenient movement and provide panoramic views of the area.

A large media facade will be installed on the wall of the West exhibition hall to invigorate the space, and a green space connecting EXCO and the nearby Daebul Park will be developed, contributing to the revitalization of the distribution complex area and improvement of air quality, thereby realizing ESG management.

Additionally, energy-efficient heating, cooling, and air conditioning systems will be introduced inside EXCO to reduce carbon emissions and provide a comfortable viewing environment.

As a core infrastructure of the local MICE industry, EXCO will further expand its fulfillment of social responsibility.

In December, EXCO signed a business agreement with prestigious universities to expand opportunities for local youth to enter the MICE industry and nurture talent. This year, various programs will be operated to allow participants to gain professional knowledge and experience in the exhibition and convention industry on-site.

In particular, the currently operating university internship program is gaining attention as it allows students to experience all aspects of MICE-related event preparation and hosting at EXCO, nurturing talent ready to be deployed directly to the field. This program is also planned to continue in the second half of the year.

Lee Sang-gil, CEO of EXCO, said, “Thanks to the active support of Mayor Hong Jun-pyo, EXCO was able to achieve its greatest performance ever. We are grateful to Daegu City, Gyeongbuk Province, and the citizens of the city and province for their generous support, which has enabled EXCO to grow into a global exhibition and convention center and strengthen its competitiveness as an anchor facility in the local MICE industry.” He added, “Going forward, EXCO will lead the MICE industry with comfortable facilities and substantial content to leap forward as the center of the local economy and culture.”