Korea to host 2012 International Expo

In Paris, the 140 Member States of the BIE decided by secret ballot that the 2012 Expo will be held in Yeosu, Korea.

Efficient allocation of roles between the central and local governments as well as active support by the private sector in promoting the International Expo contributed greatly to winning the right to host the international event.

The International Expo, together with the Olympics and the World Cup, is one of the great world events. In economic terms, the Expo is expected to bring about great economic benefits to the host country.

Specifically, the hosting of the International Expo for three months is expected to create KRW ten trillion as well as added value of KRW four trillion. It will also create about 90,000 jobs.

In advance of the event, the government plans to invest KRW 7.7 trillion in expanding infrastructure such as roads, airports, and railways, and another KRW 1.7 trillion for exposition grounds and necessary facilities. A further KRW 2 trillion will be spent to build accommodation for attendees in the areas surrounding Yeosu.

The successful holding of the exposition under the theme of 'The Living Ocean and Coast' is anticipated to contribute to further developing the marine industry in such areas as shipping, ports, fisheries and marine resources development.

To this end, the government will restructure the expo committee and move ahead with preparations such as securing exhibition grounds and planning exhibition halls, through the establishment of the 2012 Yeosu Expo Task Force under the Ministry of Maritime Affairs and Fisheries (MOMAF).

In addition, for the efficient operation of the expo committee and implementation of projects, the government will undertake enactments of the ‘Special Act for 2012 Yeosu Expo Support’.

No time will be wasted to implement related expo projects such as the ‘Yeosu Project’ and ‘Yeosu Declaration’ which have been presented in a bid for the event.

In order to gain credibility from the international community through the expo and securing the event to provide an opportunity in leaving a valuable heritage for the mankind, the government will make a concerted effort at a national level while encouraging the active participation of the private sector.