Public and Private Sectors Mobilize for APEC, but Accommodation Shortage Concerns Remain

Public and Private Sectors Mobilize to Secure Accommodation and Transportation for APEC in Gyeongju
Cruise Ships Secured to Disperse Lodging Demand
International Flights at Pohang and Gyeongju Also Under Consideration
On the Ground: "Number of Additional Attendees Keeps Growing"
Shortage of Restaurants, Chefs, and Support Staff Persists

"We have secured about 40 top-tier hotel rooms of approximately 330 square meters each, and 10,000 rooms in 3- to 5-star hotels, but this is still woefully insufficient."

Concerns over an accommodation and transportation crisis during the Asia-Pacific Economic Cooperation (APEC) Summit and the CEO Summit, which will be held in Gyeongju this October, are not subsiding. Although the government and the business community are working busily to secure flights and lodging, the number of heads of state and business leaders from various countries hoping to attend continues to increase. As a result, not only is there a shortage of accommodations and transportation, but there is also a significant lack of restaurants capable of serving three meals a day to participants, as well as professional chefs and other support staff.

A senior executive from the business sector involved in the summit preparations expressed concern on the 16th, saying, "Initially, the government estimated that accommodation for about 3,500 government officials from participating countries and 7,000 to 8,000 people in total, including private sector attendees, would be sufficient." He added, "However, on the ground, it feels extremely inadequate." He emphasized, "If Donald Trump, the President of the United States, attends, it is expected that presidents from all countries, especially observer states, will also participate. When the U.S. President visits Korea, it is said that about 1,500 U.S. government officials alone will attend, and the number of additional attendees continues to grow."

Prime Minister Kim Minseok, the chair of the preparation committee for the Asia-Pacific Economic Cooperation (APEC) Summit, is touring the National Gyeongju Museum on the 11th. The National Gyeongju Museum is also scheduled to be used as a banquet venue during the APEC period. Photo by Yonhap News

Currently, led by the government, local governments and the business community are participating in summit preparations in various ways. Prime Minister Kim Minseok conducted a comprehensive inspection of APEC Summit infrastructure last week, and on the 15th and 16th, he personally visited the site to check the status of accommodation and cultural content preparations. North Gyeongsang Province and Gyeongju City are developing accommodation facilities, including Presidential Rooms (PRS) for APEC member state leaders, to the highest domestic standards. However, as some VIPs are assessing that the international quality they require is not being met, the accommodation area is being expanded to include nearby major cities such as Busan.

The Korea Chamber of Commerce and Industry (KCCI), which serves as the Korean representative organization for the APEC Business Advisory Council (ABAC) and organizes the APEC Private Promotion Committee, has secured two cruise ships with 850 and 250 rooms, respectively, to disperse accommodation demand during the APEC Summit. In addition to the cruise accommodations, there are plans to utilize lodgings in the Bomun area, Ulsan, Gijang, and other nearby regions.

As the range of accommodations expands, transportation issues become increasingly important. Ensuring smooth transportation routes is crucial. The industrial sector is focusing on allowing international flights at Pohang-Gyeongju Airport, which is close to the event venue, and preparing alternative options such as cruise ships and hotels in other regions that can accommodate about 1,000 people.

Five airports are involved in preparations for the APEC Summit: Gimhae, Daegu, Pohang-Gyeongju, Ulsan, and Gimpo. Since May, Korea Airports Corporation has established an APEC Summit Task Force under the Operations Division Director and is setting up a company-wide support system.

Son Jongha, Director of Operations at Korea Airports Corporation, said at a press briefing held in Gangseo-gu, Seoul, "We are preparing to install a temporary CIQ (Customs, Immigration, Quarantine) so that Pohang-Gyeongju Airport can operate non-scheduled international flights," and added, "We are also securing additional aprons (aircraft parking areas) to meet airport demand during the APEC Summit."

Prime Minister Minseok Kim, the chairperson of the preparatory committee for the Asia-Pacific Economic Cooperation (APEC) Summit, visited the APEC Summit site in Gyeongju on the 15th to inspect the status of accommodation facilities and service preparations. Photo by Yonhap News

Preparations are also underway for transportation and accommodation options for global CEOs and other key figures attending the CEO Summit, which will be held for four days starting October 28, prior to the main summit. Some companies have requested to stay in Busan and travel by helicopter, while others have made specific requests such as vegan meals or luxury accommodations. A KCCI official stated, "We are focusing on alternative options such as cruise ships to provide accommodations that meet the quality demanded by VIPs."

The KCCI is holding its Summer Forum in Gyeongju from today until the 19th. The forum, which was originally scheduled to be held in Jeju, was moved to Gyeongju this time to prepare for the APEC Summit. During the forum, government and business leaders will share updates on private sector preparations ahead of the APEC Summit and review related issues.

Prime Minister Kim will attend the forum as a special keynote speaker on the opening day. His schedule is said to include a review of the government's progress on APEC preparations, as well as an on-site inspection. On the 18th, a joint public-private inspection is scheduled to be conducted under the auspices of the KCCI, during which coordination of roles and response strategies among the National Assembly, government, and business community will be discussed.

The Presidential Office announced on the 15th that President Lee Jaemyung had sent invitation letters for the APEC Summit to the leaders of 20 member countries, including the United States and China. This officially marks the announcement of the APEC Summit.

The CEO Summit, a major side event of the main summit, is expected to draw a large number of global business and international organization leaders, including Jane Fraser, CEO of Citigroup; Shouzi Chew, CEO of TikTok; and Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). If heads of state from the United States, China, and other countries confirm their attendance at the summit, the number of participating business leaders is expected to increase significantly. There is speculation that the heads of major big tech companies?including Sundar Pichai, CEO of Google; Tim Cook, CEO of Apple; Mark Zuckerberg, CEO of Meta; and Jensen Huang, CEO of Nvidia?may also attend in large numbers. The KCCI predicts that about 1,700 people, including around 700 CEOs, executives, and support staff, will visit Gyeongju for the event.