SK chief all-in to attract support for World Expo 2030 in Busan

The Korea Times

The Korea Times

Business

Tue, September 26, 2023 | 07:56

Companies

SK chief all-in to attract support for World Expo 2030 in Busan

Posted : 2022-09-13 16:34

Updated : 2022-09-14 14:28

By Kim Hyun-bin

SK Chairman Chey Tae-won is scheduled to visit Japan and the U.S. to attempt to win support for Korea's bid to host the World Expo 2030 in Busan, according to industry officials, Tuesday.

Chey, who also serves as the chairman of the Korea Chamber of Commerce and Industry (KCCI), is expected to depart for Japan, Thursday, and meet with Prime Minister Fumio Kishida, which will mark his second overseas business trip as KCCI chairman to drum up support for Busan hosting the expo after his visit to Paris, France in May.

After Japan, the chairman is scheduled to visit Washington, D.C. to attend the SK Night event held on Sept. 21. SK Night is an event where major U.S. political figures, lobbyists and SK business partners gather. It is expected that Chairman Chey will introduce Korea's bid to host the expo in Busan to major leading U.S. figures.

SK Group Chairman Chey Tae-won

He recently appeared on "SamPro TV," the largest YouTube economics channel in Korea, and appealed for public support for Busan to host the expo.

"The 1988 Seoul Olympics turned Korea from a developing country into a middle-income country, and the 2002 Korea-Japan World Cup instilled confidence that we have become a developed country. (The World Expo) is an opportunity for Korea to be recognized," Chey said.

If World Expo 2030 is hosted in Busan, Korea will become the seventh country in the world to host all three major international events: the Olympics, the World Cup and the World Expo. According to the Korea Institute for Industrial Economics and Trade, the economic ripple effect of the 2030 Expo in Busan is expected to amount to the attraction of 61 trillion won ($44.3 billion), and create around 500,000 jobs.

The other competitors to host the World Expo 2030 are Saudi Arabia's Riyadh and Italy's Rome.

Saudi Arabia and Italy are supported by the Arab world and Europe. However, Korea's business leaders and government officials with ties to the Association of Southeast Asian Nations (ASEAN), Central and South America, Central Asia and the Caribbean Islands are coming together to appeal for support for Busan's expo bid.

hyunbin@koreatimes.co.kr