Chairman Seo Cheolhyun: "Economic Impact of 29.5 Billion Won"
"Great Potential to Attract International Tourists"
Every autumn, the "Seoul International Fireworks Festival," which lights up the night sky of Seoul, is increasingly being recognized not just as a fireworks event but as a cultural and economic asset for the city.
Seo Cheolhyun, Chairman of the Korea Culture and Tourism Institute, who analyzed the economic impact of the Seoul International Fireworks Festival, stated on September 15, "It is having a positive ripple effect across the tourism industry," adding, "If the Seoul Metropolitan Government and the tourism sector collaborate to develop travel packages, the effect of attracting international tourists could be significantly increased."
Chairman Seo explained, "According to an analysis using big data by the Korea Tourism Organization, the Seoul International Fireworks Festival generated an estimated economic impact of about 29.5 billion won," and added, "Not only Yeouido, but also nearby commercial districts such as Mapo, Yongsan, and Dongjak become more vibrant, with increased sales in accommodation, transportation, and food and beverages." He further stated, "Everyday consumption, including cafes, convenience stores, and delivery services, is also boosted, leading to increased revenue for small business owners and the creation of temporary jobs."
Although the Seoul International Fireworks Festival is held for only one day, it attracts more than one million visitors every year. More than half of the attendees come from outside Seoul, and the proportion of international tourists continues to grow. Chairman Seo commented, "Fireworks provide a highly satisfying sensory experience for tourists, making it a must-see travel course," and assessed, "It has great potential to stand alongside the world's top three fireworks festivals."
At the same time, he emphasized the importance of safety and environmental management for the festival's sustainability. Chairman Seo said, "Safety and the environment are directly linked to public trust, so it is necessary to transparently disclose all measures," and added, "By expanding consensus through resident participation programs and events linked to local businesses, we should promote the festival as one that grows together with the community."
Chairman Seo concluded, "When the Seoul International Fireworks Festival establishes its identity as a sustainable festival with citizen participation, it will become more than just a spectacle and will emerge as a signature brand representing Seoul," adding, "It will remain a reason for people to want to revisit the city."
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