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It appears that the global conference of business leaders in Seoul next month will be losing some of its public relations (PR) luster after some of the big names were dropped from the roll call.
The Nov. 10 to 11 Seoul Business Summit, which is to complement the Group of 20 summit scheduled for Nov. 11 to 12, will bring together 120 or more chief executive officers (CEOs) and influential business figures who will exchange views about the world economy and the private sector’s role in strengthening the global recovery.
However, the highly-anticipated forum seems to be garnering just as much attention for those who won’t be there as those who will. Microsoft founder Bill Gates, Visa Chairman Joseph Saunders, ArcelorMittal CEO Lakshmi Mittal and Areva CEO Anne Lauvergeon were confirmed to have waived on their previous commitments.
The absence of Gates is definitely a letdown for organizers who had been scrambling to give the forum a publicity jolt after being rejected by Apple CEO Steve Jobs and American investor Warren Buffett. Saunders and Mittal had been picked among the conveners of the meeting and will likely be replaced by lower-ranked executives from their companies.
The business summit might also have to do without its most famous Korean invitee as Samsung Electronics Chairman Lee Kun-hee could be at the Asian Games in Guangzhou, China, instead to serve his duty as an International Olympic Committee (IOC) member.
“Gates was invited as a special guest, so his absence wouldn’t be much of a disruption to the business summit. Gates had wanted to come, and we even booked a room for him at the Hyatt Hotel, but regrettably, he recently notified us that something came up that he needed to personally attend to,” Oh Young-ho, commissioner of the business summit’s organizing committee, told reporters Tuesday.
“Samsung hasn’t officially told us anything regarding Lee’s availability at the business summit, but the Asian Games start on Nov. 12 and our understanding is that he is trying to work out the conflict in schedules. The CEO of Areva is still dealing with the hostage situation involving its employees in Niger.”
Mittal is likely to be replaced by ArcelorMittal Executive Vice President Bill Scotting, according to a source at the organizing committee, while a representative from Visa’s Korean unit said the company has yet to pick an executive to replace Saunders in Seoul.
The business summit, to be held at the Sheraton Walkerhill Hotel in northeastern Seoul, is expected to be the main source for private sector input for the discussions between G20 political leaders and finance chiefs. The roundtable discussions will allow direct exchanges between the business leaders and 11 or more G20 political leaders, including South Korean President Lee Myung-bak.
“The number of world leaders participating in the business summit could increase to 12 or more, as we are trying to work out a schedule for the leaders of Russia and Indonesia,” said Oh, adding that 25 of the 120 CEOs come from companies based in non-G20 countries.
“We have exactly 120 business leaders who have confirmed their participation in the business summit at this moment, but the final number could change as we continue to exchange lively talks with companies wanting to get in.”
The business leaders will be served a lavish, albeit predictable, wine-and-food pairing at the Nov. 10 dinner reception, perhaps quelling the fear of some participants being force-fed “makgeolli,” the odorous Korean peasant wine that had dominated the tables at international events hosted here recently.
According to Kim Ki-jae, event creative director of the business summit’s organizing committee, the business leaders will be served the Lou Dumont Cremant de Bourgogne sparkling wine as aperitif, the 2009 vintage of Hogni Sauvignon Blanc for the fish course, Gaja Ca’Marcanda Magari for the meat dishes and finish off with a sweet glass of De Bortoli Noble One.
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