Korea ready for World Expo 2030

Members of the public-private committee promoting Korea's bid to host the World Expo 2030 pose after their meeting at the Four Seasons Hotel in Seoul, March 10. They include Prime Minister Han Duck-soo, front row fifth from right, Korea Chamber of Commerce and Industry Chairman Chey Tae-won, front row fourth from right, Foreign Minister Park Jin, front row sixth from?right,?Minister of Trade, Industry?and Energy Lee Chang-yang, front row third from left, and Busan Mayor Park Heong-joon, front row second from left. Courtesy of Prime Minister's Office

By Lee Kyung-min

• Published Apr 2, 2023 4:34 PM KST
• Updated Apr 4, 2023 10:01 AM KST

Korea's citizens, unified public-private partnership excited to share exemplary growth story

By Lee Kyung-min

Korea will share its decades-long story of rapid, stable growth as the host of the World Expo 2030 in Busan, the industry ministry said on Sunday. This much-admired example of a once-impoverished war-torn country becoming the world's 10th-largest economy and a leader in the fight against climate change will be highlighted as Busan stands ready to host the mega-event.

Korea is the only country that has had its status changed to “advanced” from “developing” since the establishment of the United Nations Conference on Trade and Development (UNCTAD). It is the prime example of an international aid recipient becoming a donor with one of the most generous contributions and tailored aid programs.

The robust growth of the country has been underpinned largely by its high-tech semiconductor, automotive and shipbuilding industries, as evidenced by the stellar global performance of Samsung, SK and Hyundai among others.

The achievements of the manufacturing players are solidified further by the growing worldwide recognition of Korean cultural products ― film, K-pop, entertainment and show businesses.

This is why Korea is perfectly suited to host the mega-scale event under the theme of “Transforming Our World, Navigating Toward a Better Future.”

Korea will be glad to not only share its achievements and future growth strategies but also help develop solutions to best utilize its experiences for the betterment of many. Most pressing will be the climate crisis, technology and socioeconomic polarization ― areas where Korea's advanced technological developments can contribute greatly to tackling a slew of challenges insurmountable without the support of the international community.

Public support, propelled further by months of partnerships between the government and the private sector, has culminated in a resounding success. It will be remembered as a rare period of celebration that has best illustrated the meaning and definition of inclusive, sustainable growth.

Why Korea?

The Ministry of Trade, Industry and Energy said Busan hosting the World Expo 2030 will fortify the nation's sense of responsibility and leadership as one of the highest-ranking global economies.

Korea's example will become vital for its developing peers, especially those seeking a path of stable and sustainable growth. Since many of them are transitioning from political volatility and economic instability, Korea's guidance could be key.

The challenging circumstances notwithstanding, Korea will remain committed to sharing its experiences and knowledge to help its developing peers, mostly by drawing from its own experiences in overcoming a bout of challenges over the past century.

Crises were turned into opportunities through such significant transformations. The separation of the country, the 1950-53 Korean War, political division, poverty and authoritarianism, are illustrations of this.

“Korea can and will continue to serve as a bridge between its developing and developed peers, a role that can be strengthened from its experience with rapid growth while upholding universal values, including human rights and freedom,” the ministry said.

Other strengths of the country include experiences in providing solutions to climate change, the COVID-19 pandemic and the digital divide, as underpinned by strong local businesses with relevant technological capabilities.

Theme

The government seeks to host the World Expo 2030 in Busan on a 3.44 million-square-meter plot of land at Buk Port in the northern part of the city for six months from May to October. It expects about 34.8 million visitors.

The theme of the Expo will be “Transforming Our World, Navigating Toward a Better Future.”

The three sub-themes are “Sustainable Living with Nature,” “Technology for Humanity” and “Platform for Caring and Sharing.”

The three are in line with Planet, Prosperity, People ― three pillars of the U.N. Sustainable Development Goals (SDGs), a collection of 17 interlinked objectives intended to serve as a “shared blueprint for peace and prosperity for people and the planet, now and into the future.”

Bringing the World Expo 2030 to Busan will carry all the more significance because the year will be when the 2030 Agenda for Sustainable Development will be adopted by all U.N. member states.

The U.N. said the 17 SDGs are an urgent call to action for all countries ― developed and developing ― in a global partnership.

Competitors

The Bureau International des Expositions (BIE), an intergovernmental organization in charge of overseeing and regulating World Expos, will hold a vote during its general assembly in November to select the host city for the 2030 international event.

Korea's competitors are Riyadh in Saudi Arabia, Italy's Rome and Ukraine's Odesa. Russia was among the list of contenders but withdrew its bid last May.

Saudi Arabia is the toughest competitor. Its crown prince is leading the city's campaign through diplomatic channels, buttressed further by the so-called “oil money” to win the votes of BIE members.

Italy is also a strong candidate since it has prior experience hosting two World Expos, both in Milan in 1906 and 2015. The city of Rome is an attractive venue, and the government of Italy is making appeals with its traditionally friendly countries in Europe and Latin America based on the existing BIE network.

Ukraine has participated in the third presentation, with great emphasis on the need to host this meaningful event for the “post-war national and urban reconstruction.”

Korea's efforts

The public-private committee promoting Busan's bid to host the World Expo 2030 gained momentum after President Yoon Suk Yeol's inauguration last May and the subsequent appointment of his Cabinet members thereafter.

The committee has since signed memorandums of understanding (MOUs) with dozens of top conglomerates and municipal governments.

The committee has dispatched presidential and foreign envoys to fortify bilateral and multilateral cooperation with key BIE voting members.

Korea has stressed how the support for Busan's bid can spur economic and diplomatic relations, a strategy the ministry has termed “focus on soft power.”

Overseas development assistance (ODA) as well as economic cooperation in the areas of energy, defense, culture, technology, land, construction and urban planning have been discussed.

The latest example was an agreement signed with Hyundai Motor Group last week, to illustrate the capabilities of Korea's infrastructure and technological advancements in high-tech and green electric vehicles (EVs). Eight high-end G80 electric models and four express buses will be provided to help BIE representatives understand the cutting-edge EVs which are the newest sign of commitment to carbon neutrality, a growing priority of the global community.

The ministry said a growing number of BIE votes will come in Korea's favor, as indicated by verbal commitments from countries around the world since the latter half of last year.

The tide turned in Korea's favor, the ministry stressed, since the third presentation given last November. During the session, Korea made appeals to the popularity of the country's cultural content.

Many of the BIE voting members remain undecided, a reason why Korea can overtake the dominant influence of Saudi Arabia.

“Saudi Arabia has had an advantage, but we can turn the tables for the remainder of the year,” a ministry official said.

Korea's Expo experience

The World Expo, otherwise known as an International Registered Exhibition, is a major event held for six months, compared to Specialized Expos which are held for only up to three months.

Korea held two Specialized Expos, in Daejeon in 1993 and Yeosu in 2012.

The Busan event will create an economic value of 43 trillion won ($33 billion) and an added value of 18 trillion won. About 500,000 jobs will be created.

For context, the World Expo 2010 held in Shanghai attracted 73 million visitors, creating an economic value of 48 trillion won and 630,000 jobs.

Hosting the event will initiate an economic and diplomatic impact much greater and far-reaching than those created by Korea's two previous Expos.

The World Expo is considered one of the top three global large events, alongside the Olympics and the World Cup.

Korea could become the 12th country in the world to hold a World Expo and just the seventh country to host all three said major events, marking an amazing chapter in this story of transformation.

Enquiry Mission visit

The BIE Enquiry Missions comprised of key BIE officials and member states will visit Korea from April 2 to 7 to review the feasibility and viability of holding the Expo here as well as the level of national support for the international event. They will meet with top policymakers and lawmakers in Korea and visit Busan for three days. Korea will give two competitive presentations, one in June and November before the vote is held to pick the host city.