MEETINGS STRENGTH

South Korea is the industrious home of global corporate giants such as Samsung and Daewoo. Seoul and other major cities, including Jeju and Busan, have undergone a period of urban renewal and economic growth, much of which is a result of a boom in the spheres of technology
and entertainment.

As for the future, the country stands to benefit greatly from the recent free trade agreement it signed recently with the US.

A new emphasis on enjoying the finer things in life – such as food, wine and art – has helped attract increasing numbers of Japanese and other Asian business groups in recent years.
For business travellers, the destination’s transformation means a wider selection of world-class hotels and restaurants.

AGGRESSIVE MARKETING
The industry’s aggressive marketing efforts have resulted in 85 conventions in Seoul this
year, and 123 international events in other parts of the country.

The Korea Tourism Organisation also recently launched the country’s first official strategic tourism brand promotion – ‘Korea Sparkling’ – to help grow the local conference and incentive market and fulfil the government’s goal of achieving ten million visitor arrivals by 2010.

The Korea Convention Bureau, a part of KTO, has taken advantage of the new campaign
by developing a MICE-specific slogan – ‘Korea, Your Sparkling Convention Destination’.

However, competition from other regional destinations and the exchange rate are still
major challenges for South Korea. The won (Korea’s currency) is getting stronger and for regional meeting and incentive groups, pricing is not as competitive as it could be.