Market Overview

World Trade Center Seoul and Coex Launch 'MICE Cluster', Propelling Korea's Events Economy

New initiative between 12 of the capital's key players in business travel and tourism expected to advance center as global events destination.

Seoul, Korea (PRWEB) September 26, 2013

The Korea World Trade Center and Coex convention and exhibition center in Seoul will see the launch of a brand new 'MICE Cluster' initiative, announced the Korea International Trade Association in a conference held on the 51st floor of the Trade Tower, on Tuesday, September 24th.

The MICE Cluster will see increased collaboration between 12 of the World Trade Center site's leading business travel and events facilities in order to offer optimal services to domestic and global business travelers. Headed by Coex President and CEO Mr. Bokyung Byun, the conglomerate will include Coex, the Intercontinental Hotel Seoul Coex, Seven Luck Casino, SM Entertainment, and Lotte Duty Free. New, all-in-one cooperative marketing and management strategies will further enhance the World Trade Center's entertainment, shopping, business, transportation, and accommodation services.

The MICE Cluster will officially launch upon completion of the brand new Coex underground mall at the end of 2014, and aims to maximize the potential of the entire Trade Center as an invaluable resource for the convention and exhibition industry.

On top of a combined events space of over 200,000 square meters, the new, integrated site and state-of-the-art mall will also include newly constructed rooftop observatories and improved media facilities, making it an unbeatable destination for both business travelers and tourists.

Coex CEO, Bokyung Byun, stated the four main aims of the new MICE Cluster project as being the promotion of global exhibitions and conferences, the development of culture-related conventions, the fostering of Asia-representative events, and the re-branding of Coex as a 'must-visit' destination for both tourists and trade buyers.

According to a report earlier this year by consulting agency McKinsey, Korea's key opportunity for new growth lies in the meetings, incentives, convention and exhibition (MICE) industry. The new Coex MICE Cluster aims to spearhead this movement, while also increasing Coex's capacity to match those of larger events centers such as Singapore's Marina Bay Sands, and Roppongi Hills in Japan. By 2017, the World Trade Center site hopes to have increased its number of visitors from 1 million to 3 million annually, as Seoul's representative landmark, a leading Korean events brand, and driving economical force.

For the original version on PRWeb visit: http://www.prweb.com/releases/2013/9/prweb11165082.htm

 

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