[Viewpoint] Supporting Busan's Bid to Host the Expo

"Busan is ready (Busan-eun junbida)." This is the slogan Korea has adopted as it enters the race to host the 2030 Expo. On the 20th (local time), President Yoon Suk-yeol delivered a powerful presentation at the International Bureau of Expositions (BIE) General Assembly held in Issy-les-Moulineaux, France, emphatically proclaiming this phrase. First Lady Kim Keon-hee attached a keychain with this phrase written on it to her handbag to promote the Expo. Those preparing for the Busan Expo hold this phrase close to their hearts, ready to say it at any moment.

Despite our government's strong aspirations, the Expo bidding competition is not an easy one. Saudi Arabia, a formidable competitor, is leveraging its oil money to sway votes. Local Saudi media reported that out of the 179 BIE member countries participating in the Expo host city vote, 70 have publicly expressed support for Saudi Arabia. Saudi Arabia has secured an Expo site spanning 6 million square meters and plans to build a new mega hub airport, the 'King Salman International Airport.' Through the 'New Murabba Project,' which will create a 19 million square meter mixed-use cultural new town northwest of Riyadh, they are also enhancing cultural and tourism infrastructure. Saudi Arabia is using economic aid as a weapon to gain support from Islamic countries as well as Latin America and Africa.

Our government is emphasizing Korea's contributions to the global community, its capability to host international events, cultural strengths, and the historical significance of Busan to appeal that Busan is the optimal location. Korea's unique strength lies in its transformation from a recipient to a donor country, driven by the dual engines of economic development and democratization. Valuable experience includes hosting the Summer and Winter Olympics, the World Cup, and recognized expos in Daejeon and Yeosu. The influence of Korean culture, including K-pop, adds persuasive power.

Support from business leaders is also a great strength. At this BIE General Assembly, Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry and SK Group, who is also the chairman of the private committee supporting the Expo bid, Lee Jae-yong, chairman of Samsung Electronics, Chung Eui-sun, chairman of Hyundai Motor Company, and Koo Kwang-mo, chairman of LG Group, participated in promotional activities. In particular, Chairman Choi is said to be putting his life on the line for the Expo bid. He reminds many of the late Chung Ju-yung, honorary chairman of Hyundai Group, who threw his whole body into securing the Seoul Olympics in the past.

The 2030 Expo will be held for six months from October 1, 2030, to April 1, 2031. The economic effect of the Busan Expo is estimated at 60 trillion won. Along with creating 500,000 jobs, it is expected that 35 million people from over 200 countries will visit Korea during the Expo period. This is much larger than the economic effects of the 2002 Korea-Japan World Cup, which was 17 trillion won, and the 2018 Pyeongchang Winter Olympics, which was 29 trillion won. Like Shanghai, Dubai, and Milan, which previously hosted Expos, Busan will be able to rise as an international city and grow into a world-class tourist city.

The devil is in the details. This means that problems hide in small things. Conversely, it also means that the competition can be won in the details. This is an area where Korea can outperform Saudi Arabia. President Yoon and the government have united to enter the bidding competition, and major business leaders are supporting it by utilizing all their networks. If the determination and attention to detail that secured the Seoul Olympics back then are present, perhaps the money power of Saudi Arabia can be overcome. We fervently support the bid for the Busan Expo.

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