S. Korea to expand convention, exhibition industry

SEOUL, Sept. 24 (Yonhap) -- South Korea plans to build up its convention and
exhibition industry in the next five years as part of a broader effort to bolster
the domestic service sector, the government said Wednesday.
The Ministry for Knowledge Economy said it plans to expand exhibition space at
large scale convention centers from 160,000 square meters at present to 270,000
square meters by 2012.
"The goal of the expansion is to develop local infrastructure that will allow the
hosting of both domestic and international gatherings," a government official
said.
He said hosting one or two large international events similar to the Detroit
Motor Show or CeBIT, a world trade fair showcasing information and
telecommunications technology, could help fuel the industry. Conventions related
to IT, electronics, shipbuilding and machinery have particular potential because
South Korean companies are global players in those industries.
"Attracting such gatherings could translate into more jobs," he added.
The plan claims that if expansion takes place without setbacks and more
exhibitions are held in the country, the industry's contribution to gross
domestic product could rise to 0.25 percent in 2012 from 0.17 percent this year.
The sector could help employ 35,000 jobs in the target year from 16,000 at
present, the ministry said.