The Asia-Pacific Economic Cooperation meeting will take place here in Korea next year and the southeastern coastal city of Gyeongju will be hosting the annual regional forum.
Park Kun-woo takes a look at what this means in terms of the economy.
Gyeongju city, former capital of the Silla Kingdom and home to some of Korea’s most important historical sites has been selected as the host city for the annual meeting of the Asia-Pacific Economic Cooperation next year.
Gyeongju was reported to be evaluated highly for its historical value and cultural aspects, beating its rivals, including Jeju and Incheon.
Hosting the event is likely to bring economic benefits to the city.
An analysis by Gyeongbuk Development Institute said an economic effect of some 1-point-4 trillion Korean won or over one billion U.S. dollars is expected to be created in Gyeongsangbuk-do province, where Gyeongju is located.
With around 2-hundred meetings including summits between 21 countries and ministerial meetings to be held during APEC 2025, around 500-thousand domestic and foreign visitors are expected to visit Gyeongju.
“Los Cabos in Mexico was once a small city with a population of only 70-thousand, but has been transformed into a tourist city of 340-thousand through APEC. As we have been given the opportunity, we will make sure to take advantage of it.”
Gyeongju has pledged to prepare thoroughly for the event.
“We will form an APEC Preparatory Support Group and establish optimal infrastructure for facilities including conference halls, accommodation, and media. We will also provide operational support for protocol, transportation, cultural tourism, and medical personnel.”
APEC 2025 is set to be held in November next year.
This will be the first time since Busan in 2005 that the APEC summit will be held in South Korea.
Park Kun-woo, Arirang News.
Source : Arirang TV, https://www.arirang.com/news/view?id=272564
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