Korea of the Thirteen Place for Trade Has No Internationally Certified Exhibition

COEX of Korea International Trade Association requested the international certification on three exhibitions such as KOFA 2002 to UFI this year. If the certification is determined in a general meeting of UFI held in Milano, Italy at the end of next month, it can be the first exhibition in Korea.

According to the Ministry of Commerce, Industry and Energy (MOCIE) and related industry on September 3, Korea ranked thirteen with 291.5 billion dollar in the trade last year, and it needs to develop the exhibition industry because it doesn’t have any international certification exhibition until now. According to UFI, Korea didn’t have any trade exhibition that received the international certification, compared with 22 exhibitions in China, 15 exhibitions in Singapore and 7 exhibitions in Indonesia at the end of last year.

In terms of a size of the trade exhibition center per 0.1 billion dollars for trade, Korea has just 51. 8 sq. yds and is small, compared with 292.6 sq. yds in Germany, 204.8 sq. yds in China and 80.2 sq. yds in Japan.

MOCIE analyzed that there are 20 various exhibitions per year in Korea, but there are only 2 or 3 exhibitions participated by 400 companies. Also, foreign companies have never participated in the exhibition.

85% of all exhibitions are held in the metropolitan areas such as Seoul, and so there is short of exhibition halls. However, Busan and Daegu has just 30~50% of operation ratio, and the area unbalance is serious.

Kim Yong-gwan, the professor of School of Management, Ewha Womans University said, “Export-oriented Korea economy must promote the exhibition industry immediately. If it is realized that China is the center of Asian exhibition industry, Korea will be in difficulties to compete with China”.

On September 3, MOCIE announced to organize ‘Korea Exhibition Industry Organization’ and to concentrate on developing the exhibition industry actively.

In terms of exhibitions which have the good performance after evaluating the exhibition held by local governments and private organizations, it decided to introduce ‘certification’ system and support funds.

Lim Nae-gyu, the vice-minister of the Ministry of Commerce, Industry and Energy (MOCIE) said, “When Koyang International Exhibition & Convention Center is completed at the end of 2004, We will use the exhibition industry positively to the general industry development through combining ‘exhibition business’ to the promising next generation industry development.”

Ja-Ryong Koo bonhong@donga.com