17-Month Government, Corporations, and Local Governments
Mobilized Triangular Alliance Capabilities
But Lost to Saudi Arabia by 90 Votes
Exposed Weaknesses in Diplomacy and Negotiation Skills
Responsibility of Korean Prime Minister Inevitable
The government is expected to face significant repercussions following the decisive defeat in the ‘2030 Busan Expo bid’ after a 17-month all-out effort. Former UN Secretary-General Ban Ki-moon, who had been kept secret as the final presenter, appeared to attempt a ‘last-minute turnaround,’ but there was no upset. Despite the government, corporations, and local governments forming a ‘triangular alliance’ and putting their lives on the line in the bid, they failed to reach the final runoff vote and suffered a complete defeat by a margin of 90 votes.
On the afternoon of the 28th (local time) at the 173rd General Assembly of the International Bureau of Expositions (BIE) held in Paris, France, Busan was eliminated after receiving 29 votes out of 165 member countries participating in the vote. Riyadh received 119 votes. Rome, Italy, received 17 votes. Until just before the General Assembly, it was analyzed that the competition was close, but when the results were revealed, Saudi Arabia won by a large margin of 90 votes.
Prime Minister Han Duck-soo expressed regret over the failure of the bid, stating, “I am deeply sorry for not adequately responding to the support from the people, and I feel a heavy sense of responsibility.” He highlighted that during the Busan Expo bid period, President Yoon Suk-yeol and the public-private sectors built a diplomatic network with the 182 BIE member countries, saying, “We have gained a new diplomatic asset,” and added, “We will work to further develop this.”
Saudi Arabia, which received 119 votes (72.1%) out of 165 in the first round of BIE voting, is expected to expand its influence in the international community by hosting the Expo. Saudi Arabia confidently pursued the 2030 Expo bid from early 2021 and publicly announced the support declarations from BIE member countries. They started their bid campaign about nine months ahead of us and focused on targeting member countries of the Organization of Islamic Cooperation (OIC) and the African Union (AU), securing support declarations from over 60 countries.
Korea tried to turn the tide in the final presentation by promising support to developing countries, but failed to surpass Saudi Arabia. The unexpectedly large margin is expected to spark ‘accountability debates’ inside and outside the government. Busan’s vote count in the first round was only a quarter of Riyadh’s. Above all, for the presidential office and ruling party, which intended to use the Busan Expo bid as momentum for the general elections in April next year, this plan will inevitably face setbacks. There are also evaluations that Korea’s weak diplomatic and negotiation capabilities were exposed. Prime Minister Han, who served as co-chairman of the joint bid committee, is also unlikely to escape responsibility amid the cabinet reshuffle.
Prime Minister Han Duck-soo is holding a press conference after Busan was eliminated in the vote to select the host city for the 2030 World Expo at the 173rd General Assembly of the International Bureau of Expositions (BIE) held on the afternoon of the 28th (local time) at the Palais des Congr?s on the outskirts of Paris, France. (Photo by Yonhap News)
Saudi Arabia’s ‘oil money’ strategy targeting BIE member countries and the fact that it started the bid campaign earlier than Korea are also cited as reasons for Saudi Arabia’s ‘landslide victory.’ Saudi Arabia is the world’s top oil exporter, holding 17.2% of the world’s oil reserves. No BIE member country can easily turn its back on Saudi Arabia. The power structure, which allows long-term rule due to its absolute monarchy, also plays a part. Crown Prince Mohammed bin Salman, who took power in 2017, has staked his fate on winning the 2030 Expo bid. The ‘monopoly check theory’ related to the World Cup hosting and the ‘Israel-Hamas war,’ which were considered last-minute variables, apparently did not significantly affect the vote.
Meanwhile, Crown Prince bin Salman’s estimated wealth exceeds 2 trillion dollars, equivalent to over 2,800 trillion Korean won. He announced ‘Vision 2030,’ a core project to transform the economy, which is highly dependent on oil, into one centered on advanced manufacturing. To realize this, he has set a strategy to complete ‘NEOM City,’ which is 44 times the size of Seoul, and plans to hold the Expo festivities in 2030 to showcase the fruits of ‘Vision 2030.’
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
