Gov't to double the size of exhibition centers, build convention industry

SEOUL, Jan. 5 (Yonhap) -- The government said Monday it will nearly double the
size of existing exhibition centers in the country by 2012 to help build up the
local convention industry and attract international gatherings.
The plan by the Ministry of Knowledge Economy calls for doubling the floor space
of the Korea International Exhibition Center (KINTEX), the Busan Exhibition and
Convention Center (BEXCO) and the Daegu Exhibition and Convention Center (EXCO),
and to improve access to these sites and accommodations.
The three convention centers have a combined floor space of 90,000 square meters
at present that will be expanded by 85,800 square meters in the next four years.
"The plan calls for South Korea to host at least one or two regular, globally
recognized exhibitions by the target year," said a government official. He added
that transportation to the centers will be upgraded by shuttle buses, with more
hotels to be built nearby.
The convention industry has considerable growth potential for South Korea, which
lies within easy flying distance from such metropolises as Tokyo, Beijing and
Shanghai. The industry can also help improve the country's image abroad,
translating into more trade and tourism revenue.
The ministry official said that to help local convention companies, which are
usually small- and medium-sized enterprises, measures will be undertaken to give
greater tax cuts and other administrative benefits.
He said part of the plan outlines the introduction of insurance coverage for such
events and the expansion of repayment guarantees for hosting international
conventions.
yonngong@yna.co.kr
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