Bureau and Corporate Funded Body
The Seoul International Business Advisory Council (SIBAC) was created in 2001 with the purpose of providing advice to the Mayor of Seoul on transforming Seoul into a world-class city and a major economic hub in northeast Asia.
Bringing together top-level international business leaders and experts across a wide range of industries, SIBAC meets once a year to discuss and deliberate over issues critical to the development of Seoul.
SIBAC is tasked with providing valuable advice and support with the purpose of helping Seoul develop as a globally competitive city. It is composed of 27 CEOs of world-famous businesses and five senior advisors specializing in cultural and social infrastructure.
The Annual SIBAC Meeting is held in Seoul to provide a venue for discussions on subjects related to the development of Seoul.
A total of 258 items of advice have been submitted by SIBAC members on finance, investment, tourism, and urban marketing, with Seoul City incorporating 220 of these items (85%) into its municipal administration.