Busan is ready to host World Expo 2030

The Korean delegation attended the general assembly of the Bureau International des Expositions (BIE) held in Paris, France, yesterday and conducted the fourth presentation for hosting Expo 2030 in Busan. The efforts to attract the Expo, which began with the support signatures of 1.39 million citizens of Busan in 2014, have entered the final race as the decision on the host city is expected to be made in November this year. Busan competes fiercely with Riyadh, Saudi Arabia, and Rome, Italy. In April, the BIE site inspection team visited Busan and left an evaluation saying, "Busan is ready on all fronts,” reflecting the meticulous preparations that the citizens of Busan have made for the monumental event.

The "Registered Expo," held every five years, is considered one of the world's top three events, alongside the World Cup and the Summer/Winter Olympics. If Busan successfully hosts the Expo, Korea, having already hosted the World Cup and the Summer/Winter Olympics, will become the seventh country in the world to host all three major international events. In particular, Busan Expo presents a great opportunity for the Korean economy, which is facing the challenges of low birth rates, aging population, and restructuring of the global economic order, to make a leap forward. This explains why the efforts to host Expo, originally driven primarily by Busan City, were elevated to a national project in 2018.

If successful, the Busan Expo will attract people from around the world to the North Port area of the city for six months from May 2030. Although a significant investment worth 4.9 trillion won will be required, it is expected to generate an economic ripple effect of 61 trillion won, far surpassing the investment, with an estimated 34.8 million visitors. This is 2.1 times the impact of the PyeongChang Winter Olympics and four times that of the 2002 Korea-Japan World Cup. It is also expected to create around 500,000 new jobs. The participation of corporate leaders in the Expo activities reflects the belief that it will help open up new opportunities for the country’s stagnant economy.

Busan, a refuge during the Korean War, has transformed into a global city after 70 years. Despite experiencing the aftermath of the war, the city has achieved both industrialization and democratization and has served as a symbol of the modern history and success story of Korea's evolving into an advanced country, attesting to the credentials of Busan as a suitable host. The high interest of the international community in K-culture is also adding to Busan's charm. Busan is completely set to host the Expo. Over the remaining five months until the final decision on the host city, the citizens of Busan, the government, and businesses will gather their strength to attract the Expo on the back of our unwavering support.