February Halted by Novel Coronavirus... Series of Events Canceled One After Another

Conferences, Exhibitions, and Local Government Events Also Canceled
Ministry of Trade, Industry and Energy Cancels or Postpones 11 of 25 Events
New Semester Education Events Delayed and Graduation Ceremonies Reduced
Impact on Consumption Boost and Domestic Demand Revitalization

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Kim Hyunjung] As confirmed cases of the novel coronavirus infection (Wuhan pneumonia) rapidly increase, the clock of February has come to a halt. Not only large conferences and expos but also various events, big and small, across regions are being canceled one after another. Although these measures are to prevent the spread of the novel coronavirus infection, it has become difficult to expect effects such as consumption activation and domestic demand stimulation.

On the 6th, an official from the Ministry of Trade, Industry and Energy stated, "Out of the 25 exhibitions and expos scheduled to be held this month under the management of the Ministry, 11 have been completely canceled or postponed." Representative examples include SEMICON Korea 2020 (February 5-7), the Elementary Education Expo (February 14-16), and the Daejeon Architecture Expo.

In the case of SEMICON Korea 2020, it is the largest semiconductor exhibition in Korea hosted by the Semiconductor Equipment and Materials International (SEMI). SEMI, the organizer, is a large-scale association with over 2,100 member companies worldwide and 1.3 million experts. This year, about 550 companies from the related industry were scheduled to participate with approximately 2,200 booths, conducting technology seminars, market outlooks, standards meetings, and buyer consultations. Due to the cancellation of this event, the semiconductor buyer consultation meetings will not be held, making it inevitable for related companies to face setbacks in product consultations and external marketing activities.

The 'Korea Innovation Industry Expo,' which was scheduled to be held at COEX in Seoul from the 17th to the 19th of this month, has also been tentatively postponed. Co-hosted by KOTRA and the Korea Information and Communication Promotion Association, this event is regarded as Korea's CES and is considered an important industry event. About 80 innovative companies were expected to participate this year to introduce advanced innovative technologies and products and to provide a business platform supporting promising small and startup companies in securing sales channels. Companies that anticipated expanding sales channels and marketing new technologies through this event have also been hit by the indefinite postponement.

On the 6th, amid growing concerns over the spread of the novel coronavirus infection, a citizen wearing a mask is looking at flowers at the flower market in Namdaemun Market, Seoul. Photo by Mun Ho-nam munonam@

Along with this, events related to childcare and education, such as the Elementary Education Expo scheduled for mid-month and various baby fairs ahead of the new school term, have been postponed for more than a month. The Elementary Education Expo, hosted by Global Biz Exhibition, was expected to have over 100 education-related companies and institutions participating and about 30,000 visitors, but the event date has been postponed to the end of next month (February 27-29). Regarding childbirth and childcare-related events, eight fairs including the Kobe Baby Fair, Mom & Baby Expo, and Gwangju-Jeonnam Baby Fair, which were scheduled to be held intensively this month, have all changed their dates to mid-March or later. It is known that sales plans and new product marketing schedules of various childcare and maternity product companies have also been urgently adjusted.

Events in the fields of diplomacy and unification are also being postponed or canceled one after another. The National Security Strategy Institute, a research institute under the National Intelligence Service, postponed the 'Jeonpa (Forward) Forum,' which was to be held for the first time this month on the theme of 'Diagnosis of the Security Situation on the Korean Peninsula,' scheduled for the 17th. The Asia-Pacific Policy Institute, a registered corporation under the Ministry of Foreign Affairs, also postponed the 'Diplomatic Security Policy Research Forum' scheduled for the 6th to the end of next month. The National Unification Advisory Council (Democratic Peace Unification Advisory Council), which President Moon Jae-in was scheduled to attend, also decided to postpone the event scheduled for the 7th at Jamsil Indoor Gymnasium.

Graduation and entrance ceremonies for elementary, middle, high schools, and universities nationwide, which were scheduled for early this year, have also been minimized in scale or postponed. As demand for bouquets is expected to plummet, the flower market, which considers this season its peak season, is also expected to suffer damage. Although it is difficult to estimate the damage scale immediately, self-employed vendors at the site explain that orders have decreased by more than 80-90% compared to the previous year.

Regarding this, an official from a related ministry explained, "The nature of the events means that the more foreign participants and the harder it is to control the number of participants, the greater the concern about infection spread due to holding the event," adding, "Even if it means giving up related consumption stimulation or domestic demand activation effects, it is an unavoidable choice for the safety of the people and to prevent any possible incidents."

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