Busan City Confirmed as Host for 2023 Korea Social Economy Expo

Busan City Hall building.

[Asia Economy Yeongnam Reporting Headquarters Trainee Reporter Hwang Du-yeol] The domestic social economy festival, the ‘Korea Social Economy Expo,’ will be held in Busan in 2023.

Busan was selected as the final host city in the Ministry of Economy and Finance’s call for bids to host the ‘5th Korea Social Economy Expo 2023.’

The event is a public-private joint expo involving central government ministries, local governments, and social economy organizations.

The expo will be held over three days and two nights during the first week of July, which is Social Economy Week.

The 5th Expo, held at BEXCO in Busan, is expected to feature participation from about 400 social economy enterprises, public institutions, and related organizations nationwide.

There are a total of 1,449 social economy enterprises in the Busan area.

These enterprises work in various sectors such as culture, arts, education, and care, focusing on creating jobs for vulnerable groups and revitalizing the local economy.

To attract the expo, Busan City highlighted the following differentiators: ▲ sharing the success story of the nation’s only private-led social economy support fund nationwide ▲ the formation and expansion effect of the Busan-Ulsan-Gyeongnam (Bu-Ul-Gyeong) social economy community following the launch of the Bu-Ul-Gyeong super metropolitan mega city ▲ and the fact that 2023 is the year when Busan’s bid to host the ‘2030 World Expo’ will be decided, marking a new starting point for the leap of the social economy.

It is expected that about 50,000 social economy entrepreneurs and related personnel from across the country will visit Busan when the expo is held.

Busan City also anticipates an economic effect exceeding 3 billion KRW as a result.

Na Yoon-bin, Busan City’s Public Livelihood and Labor Policy Officer, said, “We hope that successfully hosting the expo will serve as a catalyst for the growth of social economy enterprises in the Busan area and revitalize the local economy.”

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