According to Yonhap News,
(BUSAN=Yonhap News) Busan city announced on March 11 that is has established a comprehensive measure to nurture and support MICE (meetings, incentives, conferences and exhibitions) industry.
Main contents of the measure focused on new programs in order to help regional enterprises grow into small but competitive companies, including: prevent brain drain by supporting labor expenses, support R&D, provide management consulting, run a market development delegation, and intensively grow middle-managers.
The city will put in KRW 10 billion by 2022, including KRW 2 billion this year.
A city official said, "Busan achieved a quantitative success last year as it was ranked 4th in Asia and 7th in the world in international conference city index. However, the number and size of relevant companies pale in comparison to those of the capital area," adding that "we have devised this comprehensive measure to stop outflow of talents and solidify the foundation for MICE industry".
The city is to hold a MICE industry committee to gather experts' opinions on March 19 and confirm the comprehensive measures.
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** This article was translated from Korean.
Source: Yonhap News (March 11, 2019)