{"id":2200767,"date":"2023-04-20T18:23:11","date_gmt":"2023-04-20T09:23:11","guid":{"rendered":"https:\/\/koreapro.org\/?p=2200767"},"modified":"2023-11-20T18:20:48","modified_gmt":"2023-11-20T09:20:48","slug":"prestige-and-money-why-south-korea-hopes-to-host-the-2030-world-expo-in-busan","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/04\/prestige-and-money-why-south-korea-hopes-to-host-the-2030-world-expo-in-busan\/","title":{"rendered":"Prestige and money: Why South Korea hopes to host the 2030 World Expo in Busan"},"content":{"rendered":"

South Korea is currently engaged in an extensive campaign to secure the opportunity to host the 2030 World Expo in the southern port city of Busan. However, the country might not be able to overcome stiff competition from Saudi Arabia.<\/span><\/p>\n

The World Expo, which first occurred in London\u2019s Crystal Palace in 1851, serves as a platform for countries to showcase their achievements to the rest of the world. If successful in its bid, Busan plans to host the event from May 1 to Oct. 31, 2030.<\/span><\/p>\n

South Korea is eager to host the 2030 World Expo for two main reasons: economic gains and prestige. <\/span>According to<\/span><\/a> the country\u2019s 2030 Expo Bid Promotion Headquarters, South Korea stands to earn more than $45 billion during the expo while creating over 500,000 jobs. They also predict that Busan will attract approximately 35 million tourists over the six-month period.<\/span><\/p>\n

During a presentation in late March, 2030 expo bid director general Cho You-jang <\/span>claimed<\/span><\/a> that the event could generate three to five times the economic benefits that the Olympics and World Cups generally create.<\/span><\/p>\n

\u201cOther major international events such as the World Cup and the Olympics mostly generate economic benefits by broadcasting games or posting industries\u2019 advertisements, but in the case of World Expos, they are held for six months \u2014 and they require vastly complicated development processes,\u201d Cho said.<\/span><\/p>\n

If South Korea wins its bid, it will join an exclusive group of countries \u2014 including the U.S., Japan, Canada, France, Germany and Italy \u2014 that have hosted a World Cup, the Olympics and a World Expo. Furthermore, hosting the event in Busan would provide a platform for South Korea to demonstrate its technological advancements on the world stage.<\/span><\/p>\n

In addition, Busan would serve as a stage for South Korea to promote its technological prowess.<\/span><\/p>\n

\u201cElevators, phonographs and phones were all the inventions that rose to global products after they were introduced in World Expos,\u201d Cho <\/span>said<\/span><\/a>.\u00a0<\/span><\/p>\n

\u201cWith Busan’s hosting of the World Expo, Korea’s state-of-the-art technologies will be greatly publicized to the globe.\u201d<\/span><\/p>\n

\"\"

The BIE delegation visits Busan, April 5, 2023 | Image: Busan City Government<\/a><\/em><\/p><\/div>\n

BUSAN IS GOOD<\/b><\/p>\n

Earlier this month, South Korea welcomed an eight-member delegation from the Bureau of International Expositions\u00a0 (BIE) to demonstrate that Busan is ready to host the event.<\/span><\/p>\n

A 5,500-strong crowd <\/span>greeted<\/span><\/a> the delegation at Busan\u2019s high-speed rail station, and they concluded their visit with a spectacular <\/span>fireworks display<\/span><\/a> at Gwangalli Beach. Several high-profile officials, including President <\/span>Yoon Suk-yeol<\/span><\/a> and Prime Minister <\/span>Han Duck-soo<\/span><\/a>, met the delegation during their visit.<\/span><\/p>\n

BIE secretary-general Dimitri Kerkentzes <\/span>commented<\/span><\/a> during his visit that he had \u201cnever seen such enthusiasm\u201d like that in South Korea. It was a notable comment, considering that his delegation has <\/span>just visited Riyadh<\/span><\/a>, Busan\u2019s main rival for the 2030 World Expo.<\/span><\/p>\n

South Korea has also leveraged the power of K-pop megastars <\/span>BTS<\/span><\/a> and Squid Game star <\/span>Lee Jung-jae<\/span><\/a> to support Busan\u2019s expo bid. Additionally, the public-private committee promoting Busan\u2019s bid enlisted the services of <\/span>Baby Shark<\/span><\/a> as an ambassador for the event.<\/span><\/p>\n

Executives from South Korean conglomerates, including Samsung, SK Group and Lotte Group, have also lent their influence to <\/span>secure<\/span><\/a> the 2030 World Expo for Busan.<\/span><\/p>\n

THE COMPETITION<\/b><\/p>\n

Busan has all the requirements to host the 2030 World Expo, <\/span>according to<\/span><\/a> BIE president Patrick Specht during his visit to the city.<\/span><\/p>\n

However, it still might not succeed in winning the right to host the event, as Busan has to compete with Rome and Odesa, but it appears that Riyadh is leading the race.<\/span><\/p>\n

Saudi Arabia reportedly has support from numerous countries and international organizations, including <\/span>China<\/span><\/a>, <\/span>France<\/span><\/a>, the <\/span>Organization of Islamic Cooperation<\/span><\/a> (which consists of 57 member states) and the <\/span>Caribbean Community<\/span><\/a> (CARICOM, which consists of 15 member states), among <\/span>others<\/span><\/a>.<\/span><\/p>\n

The oil-rich kingdom <\/span>plans<\/span><\/a> to spend $8 billion on the World Expo site and invest $800 billion to double Riyadh\u2019s size and population as part of its <\/span>Vision 2030<\/span><\/a>.\u00a0<\/span><\/p>\n

\u201cWe are building the largest transport network in the world, we are building the largest airport in the world and over 30 mega-projects as we speak are being constructed, so the city is a hive of economic activity,\u201d Fahd Al-Rasheed, president of Riyadh\u2019s royal commission, <\/span>said<\/span><\/a> in January.<\/span><\/p>\n

Despite the competition, South Korea remains determined to vie for the opportunity to host the event. Local media, businesses and government will continue to promote Busan until November this year when the 171 BIE member countries will decide by secret ballot voting which country gets to host the 2030 World Expo.<\/span><\/p>\n

Edited by John Lee<\/span><\/i><\/p>\n

Business & Economy<\/span><\/a>Culture & Society<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"

South Korea is currently engaged in an extensive campaign to secure the opportunity to host the 2030 World Expo in the southern port city of Busan. However, the country might not be able to overcome stiff competition from Saudi Arabia. The World Expo, which first occurred in London\u2019s Crystal Palace in 1851, serves as a […]<\/p>\n","protected":false},"author":5769,"featured_media":2200772,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[21],"tags":[24,25],"yoast_head":"\nPrestige and money: Why South Korea hopes to host the 2030 World Expo in Busan - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/04\/prestige-and-money-why-south-korea-hopes-to-host-the-2030-world-expo-in-busan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prestige and money: Why South Korea hopes to host the 2030 World Expo in Busan - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korea is currently engaged in an extensive campaign to secure the opportunity to host the 2030 World Expo in the southern port city of Busan. 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