Korea targets global exhibition platform with bigger 2027 budget

The industry ministry said it will develop Korea's exhibition industry into a global business platform, raising its support budget for the sector by 4.7 billion won to 11.7 billion won ($8.73 million) next year from 7 billion won.

The Ministry of Trade, Industry and Energy announced the Exhibition Industry Development Roadmap 2030 at a meeting of economic ministers, setting a goal of nurturing at least five flagship exhibitions by the end of the decade.

The ministry will group major domestic fairs in advanced industries, such as the Korea Electronics Show, Semiconductor Daejeon, the Asia Machinery and Manufacturing Industry Exhibition and RoboWorld, under a single AI theme to build a global business platform. Once the Kintex third hall opens, it plans to consolidate those events and host conferences with prominent overseas figures.

Consumer exhibitions covering food and cosmetics will be linked with Korean culture, letting overseas buyers and visitors take in food tastings, K-pop performances and regional festivals. The government also plans to select competitive regional exhibitions from 2027 based on their growth strategies and the support of local governments, and to form a regional exhibition alliance and designate exhibition industry development zones.

Overseas, the ministry will support Korean exhibition operators in building and running venues in strategic markets such as India, the Middle East and Central Asia, combining their expertise with the networks of KOTRA and the Korea International Trade Association. It will also expand overseas editions of domestic brand exhibitions beyond consumer goods and Southeast Asia, backing market research, local offices and buyer matching for participating companies.

The roadmap calls for a new exhibition industry development committee and an amendment of the Exhibition Industry Development Act, redefining exhibitions from trade venues to industrial innovation platforms.

Kim Jung-kwan, the industry minister, said exhibition industry is a key high-value sector that drives exports and industrial innovation for Korean companies and injects vitality into regional economies. He said government, local authorities and the industry will work together so the sector can become a global business platform suited to the era of $1 trillion in exports.