BUSAN < invest Korea

According to Yonhap News,

Busan-si (City) has set a goal of becoming one of the top 10 MICE cities in the world by 2020.

On March 6, Busan-si (City) announced its comprehensive plan to foster Busan as one of the best MICE cities in Asia.

The MICE industry is a service industry that refers to meetings, incentives, conventions, and exhibitions. It was designated as one of Busan’s four strategic industries, because it is high-value added and creates strong economic ripple effects.

In order to develop the MICE industry, Busan-si (City) has decided five major strategies, 10 main tasks, and 38 detailed items.

Its five major strategies consist of establishing MICE infrastructures, strengthening the MICE industry’s base, increasing its MICE attraction abilities, boosting citizens’ awareness of the MICE industry, and enhancing global marketing power.

Its 10 main tasks include fostering MICE districts, developing professional convention organizers and professional exhibition organizers, promoting promising exhibitions and conventions, supporting MICE professionals, providing incentives, strengthening MICE attraction abilities, utilizing the Busan Exhibition & Convention Center (BEXCO), implementing Busan MICE Week, creating Busan MICE Road, and enhancing the advertisement of Busan as a global MICE city.

Besides that, Busan-si (City) will transform and expand the Exhibition Convention Division (MICE-dedicated group) into the “MICE Industry Division,” comprised of three teams.

According to the Convention City rankings of the Union of International Associations (UIA), Busan-si (City) ranked 4th in Asia in both 2011 and 2012 and ranked 15th in the world in 2012.

Director-General Lee Kab-joon of Busan’s Culture, Sports and Tourism Bureau said, ”Busan opened new BEXCO facilities, such as the 2nd Exhibition Hall and an auditorium, last year and is currently establishing MICE infrastructures, including the hall of movies. Based on the new infrastructures, Busan will increase its convention promotion abilities to become one of the world’s 10th largest cities for international meetings by 2020.”

Source: Yonhap News (Mar. 6, 2013)

** This article was translated from the Korean.