Go to Main Content

Economy & Investment News

  • Global Economic Leaders Gather for Seoul International Business Advisory Council Annual Meeting

  • Economy & Investment News SMG 3737


    With innovative growth as the pivotal point of Seoul’s economic policy for the 7th popular elections, global economic leaders and CEOs of the world’s prominent enterprises, including Forbes, Siemens, and Audi, gather in Seoul to discuss the future direction and strategies of Seoul’s economy.

    On November 9, this year’s 17th Seoul International Business Advisory Council (SIBAC) Annual Meeting unfolds in line with the theme of “Shaping Seoul’s Future through Innovative Growth.”

    This annual meeting is scheduled to appoint erudite scholars and experts in the startup industry as new members with the intent of expanding upon the base of advisory and discussion.

    The SIBAC was established in 2001 as the advisory body to the mayor of Seoul, with currently five consultants and 28 representatives of globally-renown enterprises of various fields, including McKinsey & Company, Nomura Holdings, Forbes, Siemens AG, Brookfield Asset Management, AUDI AG, Novartis Pharmaceuticals, Toray Industries, Yozma Group, and more.

    A total of 16 annual meetings were held since 2001, while the line of Seoul mayors received advice on 334 matters in the fields of economy, community, urban infrastructure, culture, environment, and entrepreneurship, and among those discussed, as much as 84%, or 282 items, were reflected within the municipal government.

    The 17th Seoul International Business Advisory Council Annual Meeting is scheduled to convene under the following three sessions: Constructing a hub for promising industries of the future I, II (R&D, biomedical, urban manufacturing, and cultural content), and creating an innovative startup climate.

    The first session invites five representatives to give a presentation on the topic of “Constructing a hub for promising industries of the future through R&D, biomedicine, urban manufacturing and cultural content.”

    The second session then examines the strengths of Seoul and explores various cases from cities around the world.

    Lastly, the third session, focusing on “Creating an innovative startup climate,” provides the opportunity for consultation on the matter of expanding the startup climate that is destined to evolve into the driving force of the innovation movement.

    Hosting this year’s SIBAC Annual Meeting as the seventh mayor of Seoul to do so, Mayor Park Won-soon, remarked, “This will be an invaluable opportunity to hear from leaders of global enterprises on the vision and strategies for the future direction of our economy,” before going on to say, “Together we will create a city where worldwide innovationists gather, a city that challenges itself to pioneer unmarked territory, as well as a city that inspires job creation, productivity, and income through innovation.”