By Lee Hyo-sik
It's still 15 months until 170 countries around the world vote to decide which city will host the World Expo 2030. But in Korea, the campaigning has already been in full swing as government officials and businesspeople have rolled up their sleeves to attract the international event to the southeastern port city of Busan.
The bidding campaign began in earnest when President Yoon Suk-yeol took the nation's office in May, as the former prosecutor-turned politician sought to return favor to Busan and South Gyeongsang Province where voters heavily favored him over his liberal rival Lee Jae-myung.
First, bureaucrats and politicians of the ruling People Power Party took the lead, stressing how important it is for Korea to host the World Expo in Busan. Then, business tycoons, including SK Group Chairman Chey Tae-won, followed suit, pledging to mobilize all their resources to support Busan's bid.
Samsung, SK, Hyundai Motor, LG, Lotte and other large business groups said their CEOs and top executives have asked foreign government officials and business counterparts to lend a hand to Korea's second-largest city. Businesses plan to extensively lobby countries in Africa, Southeast Asia and South America where they operate, asking them to vote for Busan when the 170 Bureau International des Expositions (BIE) member nations vote on an Expo venue in November 2023.
However, the Saudi Arabian capital of Riyadh stands in Busan's way, as the oil-rich kingdom also seeks to host the World Expo 2030. Riyadh appears to be the frontrunner at the moment, as it has reportedly garnered the official support of more than 70 BIE member countries. The Saudi capital is considered to have won their support via "oil money," common religious beliefs and Crown Prince Mohammed bin Salman's visits.
Saudi Arabia's global influence keeps growing in line with high oil prices as more countries voice support for Riyadh.
On July 29, French President Emmanuel Macron told the visiting crown prince that France will vote for the Saudi capital as the host city of the World Expo 2030. Obviously, his remark was designed to win the mind of the Saudi leader while France is grappling with an energy crisis, compounded by the unprecedented heat wave and Russia's move to reduce natural gas supply to Europe. France's support for Riyadh will likely exert influence on the nation's former colonies in Africa.
Given Saudi Arabia's increasing international profile, a significant number of people are painting a bleak picture for Busan's bid, saying the Saudi capital has already won the backing of dozens of countries and the number will only keep growing. In a recent luncheon meeting, a businessman said corporate leaders are wasting their time by engaging in the expo campaigning because it's already game over. He called on the leaders to devote more time and energy to steering their companies to navigate the increasingly uncertain business environment.
However, government officials and business tycoons, including SK Chairman Chey, said it is too early to give up, stressing there is plenty of time to campaign and turn the tide in favor of Busan if they work harder.
A top executive at one of Korea's major business associations recently said he and his counterparts at member companies will continue to visit Paris, where the BIE headquarters is located, and Brussels to ask member countries for their support for Busan. He also said he will organize a series of business delegations to countries in the South Pacific, Africa and South America where Korean companies have been doing business for years, to win their hearts and minds.
Businesspeople are the key to Busan's bid campaign because they are the most effective "diplomats." People even in the most remote corners of the world know Samsung, Hyundai Motor and LG, even if they have no clue where Korea is.
But Busan needs more than that. Let's hope oil prices will be much lower than now when 170 BIE members vote in November 2023.
The writer (leehs@koreatimes.co.kr) is business editor at The Korea Times.
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The bidding campaign began in earnest when President Yoon Suk-yeol took the nation's office in May, as the former prosecutor-turned politician sought to return favor to Busan and South Gyeongsang Province where voters heavily favored him over his liberal rival Lee Jae-myung.
First, bureaucrats and politicians of the ruling People Power Party took the lead, stressing how important it is for Korea to host the World Expo in Busan. Then, business tycoons, including SK Group Chairman Chey Tae-won, followed suit, pledging to mobilize all their resources to support Busan's bid.
Samsung, SK, Hyundai Motor, LG, Lotte and other large business groups said their CEOs and top executives have asked foreign government officials and business counterparts to lend a hand to Korea's second-largest city. Businesses plan to extensively lobby countries in Africa, Southeast Asia and South America where they operate, asking them to vote for Busan when the 170 Bureau International des Expositions (BIE) member nations vote on an Expo venue in November 2023.
However, the Saudi Arabian capital of Riyadh stands in Busan's way, as the oil-rich kingdom also seeks to host the World Expo 2030. Riyadh appears to be the frontrunner at the moment, as it has reportedly garnered the official support of more than 70 BIE member countries. The Saudi capital is considered to have won their support via "oil money," common religious beliefs and Crown Prince Mohammed bin Salman's visits.
Saudi Arabia's global influence keeps growing in line with high oil prices as more countries voice support for Riyadh.
On July 29, French President Emmanuel Macron told the visiting crown prince that France will vote for the Saudi capital as the host city of the World Expo 2030. Obviously, his remark was designed to win the mind of the Saudi leader while France is grappling with an energy crisis, compounded by the unprecedented heat wave and Russia's move to reduce natural gas supply to Europe. France's support for Riyadh will likely exert influence on the nation's former colonies in Africa.
Given Saudi Arabia's increasing international profile, a significant number of people are painting a bleak picture for Busan's bid, saying the Saudi capital has already won the backing of dozens of countries and the number will only keep growing. In a recent luncheon meeting, a businessman said corporate leaders are wasting their time by engaging in the expo campaigning because it's already game over. He called on the leaders to devote more time and energy to steering their companies to navigate the increasingly uncertain business environment.
However, government officials and business tycoons, including SK Chairman Chey, said it is too early to give up, stressing there is plenty of time to campaign and turn the tide in favor of Busan if they work harder.
A top executive at one of Korea's major business associations recently said he and his counterparts at member companies will continue to visit Paris, where the BIE headquarters is located, and Brussels to ask member countries for their support for Busan. He also said he will organize a series of business delegations to countries in the South Pacific, Africa and South America where Korean companies have been doing business for years, to win their hearts and minds.
Businesspeople are the key to Busan's bid campaign because they are the most effective "diplomats." People even in the most remote corners of the world know Samsung, Hyundai Motor and LG, even if they have no clue where Korea is.
But Busan needs more than that. Let's hope oil prices will be much lower than now when 170 BIE members vote in November 2023.
The writer (leehs@koreatimes.co.kr) is business editor at The Korea Times.
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