GICC Holds In-Person Event After 3 Years... Accelerates Achievement of 50 Billion Won in Overseas Construction Orders

Global Infrastructure Cooperation Conference
Participation of Ministers and Vice Ministers from Over 15 Countries and Major Clients

The Ministry of Land, Infrastructure and Transport is hosting the '2022 Global Infrastructure Cooperation Conference (GICC),' organized by the Overseas Construction Association, which will be held for two days starting August 30 (Tuesday) at the Shilla Hotel (Jangchung-dong) in Seoul.

Since 2013, GICC has been the largest domestic event held annually to promote cooperation in the infrastructure sector among the government, major overseas clients, multilateral development banks, and construction and engineering companies, as well as to support domestic companies' entry into overseas markets.

Key figures such as ministers and vice ministers from major client countries are invited to share infrastructure development plans and upcoming projects. The event also features one-on-one contract matching consultations and investment support meetings with multilateral development banks and policy financial institutions.

This year marks the 10th edition of the event, which will be held in person in Seoul for the first time in three years, inviting representatives from various countries directly.

Officials from 15 countries across the Middle East, Asia, Latin America, and Africa will gather at the venue to exchange procurement information. Through the newly established Minister and CEO Forum this year, they plan to explore infrastructure cooperation strategies based on diverse experiences and visions from each country.

Minister of Land, Infrastructure and Transport Won Hee-ryong, along with First Vice Minister Lee Won-jae and Second Vice Minister Eo Myeong-so, will conduct relay bilateral meetings with infrastructure ministers and vice ministers from nine countries to pursue infrastructure cooperation diplomacy aimed at opening new avenues for the construction industry.

In particular, regions of high interest such as Indonesia and Saudi Arabia will hold separate events to express the will for intergovernmental cooperation and support the advancement of domestic companies.

Minister Won Hee-ryong stated, "To achieve an annual overseas construction contract amount of 50 billion USD, it is important to generate tangible results by matching the strengths of our companies with the demands of countries worldwide through global infrastructure cooperation." He added, "The government, public institutions, and private companies will unite as Team Korea to enter the global market, and we will spare no effort in providing comprehensive government-wide support including diplomacy, finance, and regulatory improvements."

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