In the Midst of the New Coronavirus Crisis... The Government Only Watches the 'Korean Version of CES'

[Asia Economy Reporter Seulgina Jo] Domestic companies are only watching the government’s moves just two weeks before the so-called 'Korean version of CES (Korea Innovation Industry Expo),' which involves a large-scale tax investment. Various exhibitions and conferences are being canceled one after another due to the impact of the novel coronavirus infection from China (Wuhan pneumonia), but there has been no special notice yet. There is concern that companies might become a 'thorn in the side' for the government if they notify their non-participation in the event that the government is putting effort into.

According to the related industry on the 3rd, domestic companies that had applied to participate in the Innovation Industry Expo to be held at COEX, Seoul from the 17th are currently monitoring the situation with the possibility of booth reduction or cancellation in mind. Although the application for participation was completed last month, the specific schedule has not yet been announced. The COEX exhibition schedule also shows that the dates are all left blank.

A representative from a large company said, "It would be difficult to proceed with the event while the whole country is on alert due to the novel coronavirus," adding, "We are preparing with the possibility that the event may be canceled." Compared to mid-January when the first confirmed domestic case occurred, the spread has accelerated, and due to the nature of exhibitions attracting many visitors, virus transmission is inevitable. Another official expressed concern, saying, "The scale of this year’s event is larger than last year’s, which had about 10,000 attendees," and added, "It will be difficult to respond only with disinfection, placement of hygiene products, and standby medical staff in a situation where many unspecified people gather in a confined space."

However, the problem is that the Korea Innovation Industry Expo, which is promoted as the 'Korean version of CES,' is an event that the government is putting great effort into, to the extent that the president attended last year. Unlike last year, when there was controversy over a rushed notification to companies just ten days before the event, a large budget was allocated in advance this year. If this month’s event is canceled due to the novel coronavirus, the government’s dream of establishing it as a global representative exhibition representing the IT powerhouse will inevitably become more distant.

A representative from a participating company sighed, saying, "Is there anyone in the industry who doesn’t know that the government is strongly pushing the Korean version of CES?" and added, "Unless the government makes the decision to cancel the event first, it is not easy for companies to take separate measures." For domestic companies, it means that regardless of the situation, they cannot avoid watching the government’s moves even in deciding attendance or booth size.

This is mixed with complaints from companies that have to attend the Innovation Industry Expo between the world’s top three exhibitions, the US CES and Spain’s MWC. Last year’s 'Korean version of CES,' held at the end of January, ended amid controversy such as key exhibits not functioning properly due to insufficient preparation time. Although the event was postponed to February this year, companies with packed global schedules from the beginning of the year show a clear dissatisfaction with investing manpower and resources in an event where it is difficult to expect any significant results.

The government, aware of this situation and the companies’ true feelings, is also unable to make a quick decision. The Ministry of Trade, Industry and Energy, the supervising department, and the organizing institutions consider this week a turning point to gauge whether the novel coronavirus will spread further or subside, and intend to observe the situation a little longer.

A senior official from the Ministry of Trade, Industry and Energy explained, "We are also hearing opinions from companies that the event should be canceled," and added, "We will decide (whether to cancel) including these opinions." The official said, "We cannot decide quickly," and "It will take some more time (until the decision is made)."

This content was produced with the assistance of AI translation services.