JEJU-DO < invest Korea

According to Yonhap News,

Jeju Special Self-Governing Province submitted an application to the Ministry of Foreign Affairs to make a bid to host the 'Asia-Pacific Economic Cooperation (APEC) Summit', which is scheduled to be held in Korea in 2025.

In the application, Jeju stressed that 'Jeju is the optimal place to host the APEC Summit thanks to its strengths including its environment right for hosting the Summit, rich experiences as a host of international conferences, diverse cultural and tourism resources, mild climate, and safe security conditions'.

Jeju has experiences of holding six summits in the past, including Korea-Soviet (April 1991), Korea-U.S. (April 1996), Korea-Japan (June 1996 and July 2004), Korea-ASEAN (May 2009), and Korea-China-Japan (May 2010).

Jeju was declared an "Island of World Peace" by the national government in 2005, and has held the Jeju Forum every year since 2001.

It has the Jeju International Convention Center with 4,300 seats and 7,274 accommodation facilities (79,402 rooms), including 39 high-end hotels.

In addition, the Jeju MICE multi-purpose complex with a total floor area of 15,110㎡ (one basement and two ground floors) is scheduled to be completed in August next year.

The Jeju MICE multi-purpose complex will have 132 conference rooms that can accommodate up to 35,000 people.

In addition, Jeju has the aviation infastructure including Jeju International Airport and Jeongseok Airfield.

Jeju estimated that hosing of the APEC Summit will lead to economic ripple effect KRW 1.78 trillion in production inducement, KRW 481.2 billion in value-added inducement, and creation of 9,288 jobs.

Jeju said that this riffle effect is 2-4 times greater than that of other local governments in the competition.

koss@yna.co.kr

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Source: Yonhap News (April 19, 2024)