Seoul to Cultivate MICE Industry to Revive City’s Economy
Seoul City, having successfully convened the G20 Seoul Summit last year, is emerging as a prime venue for MICE (meetings, incentives, conferences and exhibitions) events, including international conferences, corporate conferences, and exhibitions.
Seoul City announced its 2011 MICE Industry Development Plan, which has been drawn up with the aim of cultivating the MICE sector into a major new growth engine industry that will buttress the city’s economy in the future.
Above all, the city will strengthen its support for organizations seeking to attract international events. The maximum amount of subsidies available to such organizations will be increased from a maximum of KRW 100 million per organization to up to KRW 200 million.
In addition to the subsidies, the city is also set to launch the Seoul Convention Clinic, which will offer support for various efforts to attract international events, including comprehensive advice and counseling from the early phase of bids to attract such events, not to mention a letter of support from Seoul’s mayor and various video materials.
Additionally, “corporate conferences” held in Seoul and attended by 30 people or more for two days or longer will be eligible to receive in-kind subsidies worth up to KRW 30 million.
The city will also select the most representative exhibitions of Seoul in order to cultivate internationally competitive exhibitions, and provide subsidies ranging from KRW 20 million to KRW 100 million to the organizers.
The selected exhibitions will also be given promotional support via media channels run by Seoul City. Furthermore, Seoul tourism programs designed for foreign buyers will be operated to enhance the competitiveness of such exhibitions.
Seoul City will also conduct overseas onsite strategic marketing campaigns to promote to the world the image and stature of the Korean capital, which was significantly enhanced by its hosting of the G20 Seoul Summit.
Additionally, Seoul City is stepping up its efforts to expand its infrastructure amid intensifying competition to promote the MICE industry in the international community.
Finally, a series of major projects, starting with the inauguration of the ‘Floating Island’ at the Banpo District of the Hangang Park in May this year, followed by the Dongdaemun Design Plaza (slated for completion in 2013) and the Seoul Station North Convention Center in 2015, is expected to serve as a beachhead for the Seoul regional economy.
International Conferences: Seoul Convention Bureau of the Seoul Tourism Organization
Corporate Conferences: Seoul Convention Bureau of the Seoul Tourism Organization
Exhibitions: Tourism Division, Seoul Metropolitan Government