BUSAN – In a recent interview with CNBC, Busan Mayor shed light on the city’s ambitious plans to host the World Expo, emphasizing its potential in propelling Busan to a global stage akin to Singapore.
Drawing parallels with the island city-state renowned for its status as a global hub for logistics, finance, and digital innovations, the Mayor said, “We want Busan to become a global city… while also being a city of tourism and culture.”
Beyond the cultural and tourism benefits, the Mayor highlighted the staggering economic implications of hosting the Expo. “The Expo in itself has about 60 trillion Korean Won worth of economic effect,” he pointed out.
Busan is not new to the global spotlight, having previously hosted significant events like the Olympics and the World Cup. Yet, the World Expo holds a different promise. The Mayor referred to it as the “Olympics of Industries and Culture,” emphasizing the vital role of big conglomerates in the bid. This collaboration between the government and the corporate sector underlines the country’s holistic approach to the Expo.
One of the standout features of the bid is the emphasis on economic diplomacy. The Mayor envisions the Expo as a platform to forge robust economic relations with the 180 member countries, understanding their economic needs, and positioning South Korea as a strategic partner in crafting solutions.
Reflecting on South Korea’s remarkable journey from being one of the poorest countries in the 1960s to its current stature as the 10th largest economic powerhouse, the Mayor commented, “That’s the story many countries want to share and learn from.” He further expressed the country’s desire to give back to the global community, emphasizing the potential collaborations with developing nations in need of South Korean technology, experience, and investment.
As Busan gears up for the bid, it’s evident that the stakes are high. Winning the bid is not just about hosting an event; it’s about positioning Busan, and by extension, South Korea, as a major player on the global stage – culturally, economically, and technologically.
