"Event Industry Excluded from Loss Compensation... Enacting the Event Industry Development Act Is the Only Way to Survive"

Kim Han-seok, Chairman of Korea Event Industry Cooperative, to Hold Discussion on Enactment of Development Act on the 5th

Han-seok Kim, Chairman of the Korea Event Industry Cooperative.

[Asia Economy Reporter Kim Jong-hwa] "The event industry is defenseless."

On the 4th, Kim Han-seok, chairman of the Korea Event Industry Cooperative, said, "Due to government quarantine guidelines, we suffered the greatest damage but were excluded from loss compensation and did not receive disaster relief funds. We are not protected by the government."

Chairman Kim appealed, "During the pandemic caused by COVID-19, most companies' sales were halved, but there was nowhere to complain. Enacting the Event Industry Development Act is the only way to protect the defenseless event industry."

Unlike the event industry, which was excluded from loss compensation, the travel industry and MICE (Meetings, Incentives, Conventions, and Exhibitions) industries receive government protection and support under laws such as the Tourism Promotion Act and the Exhibition Industry Promotion Act during disaster situations like these. However, the event industry lacks legal grounds for support and is being neglected by the government, it is claimed.

As of the end of last year, the event industry comprises about 5,400 companies and 60,000 workers. The market size of the event industry reached 14 trillion won in 2019 but shrank to 8 trillion won in 2020 due to the COVID-19 crisis. Although it showed signs of recovery to 9 trillion won last year, the collapse of the With-Corona (gradual return to normal life) policy has pushed it back into an unrecoverable state.

In the case of Planworks Enterprise, an event specialist company managed by Chairman Kim, sales were 12 billion won in 2019 but dropped sharply to 5 billion won in 2020, with a similar level recorded last year. To save the event industry, Chairman Kim visited the Blue House three times and the Sejong government complex four times after the COVID-19 outbreak to appeal for support but failed to secure government assistance.

Chairman Kim emphasized, "Unlike the travel and MICE industries, which were also excluded from loss compensation but received at least minimal support from the government under related laws, the event industry is effectively in a blind spot for government support. We will ensure that no legal protection is lacking even in disaster situations by enacting the Event Industry Development Act."

The cooperative will hold a forum on the enactment of the Event Industry Development Act on the 5th at the National Assembly Library's small conference room. Chairman Kim said, "We deeply regret not having pushed for the enactment of related laws before the crisis hit. At this forum, we will appeal for the necessity and urgency of the Event Industry Development Act and are determined to push for its enactment."

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