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[ASEAN-Korea summit] South Korea seeks to host 2030 World Expo in BusanBy Shin Ji-hye
Published : Nov. 24, 2019 - 17:25
The World Expo, which takes place for six months every five years, is one of the world’s three largest events, including the Olympics and soccer’s World Cup.
If Korea is successful in attracting a World Expo, the nation plans to host the international event in Busan’s North Port area from May to November in 2030, with a theme of “people, technology and culture -- the future chorus.”
Busan Metropolitan City estimated that the number of visitors would reach 45 million people from 160 countries. The expo is predicted to create 43 trillion won ($36.5 billion) in total production inducement effects, with added value of 18 trillion won and 500,000 new jobs.
Busan’s infrastructure is superior to that of other cities, according to the regional government. The North Port area is a center point of railways, roads, seaports and airports of the region. The construction of a whole network of the transportation system in the area is expected to be completed by 2026.
The city possesses tourism infrastructure including of natural destinations, accommodation facilities, international festivals and cultural events. The city also has the know-how in holding large international events, such as APEC in 2015, ASEAN–Korea special summits in 2005 and 2019, the International Telecommunication Union Plenipotentiary Conference in 2014 and the IDB-IIC annual meeting in 2015.
Following the expo, Busan will divide the fair site into three districts -- business, culture and marine industry -- to nurture them as new growth engines.
As for the business district, the city plans to create a startup finance hub by attracting convention facilities, shipping finance-related companies and stock exchanges. It also aims to foster a global hub for leisure and tourism in Northeast Asia through the construction of tourism and leisure facilities such as opera houses. The city will seek to attract marine industry startups and startups to foster them as new growth engines in connection with the marine industry cluster project.
By Shin Ji-hye (email@example.com)
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