BUSAN — BEXCO, Busan's convention and exhibition center, has won two government awards after expanding beyond a venue for events into a business platform that opens sales channels for local companies and supports overseas expansion by strategic industries.
BEXCO received a Prime Minister's Commendation from the Ministry of the Interior and Safety on the 17th for its contribution to the development of local public institutions, a day after receiving a minister's commendation from the Ministry of Trade, Industry and Energy for its contribution to the exhibition industry. The back-to-back awards recognize BEXCO's role as core economic infrastructure for the region and its capacity to lead the exhibition industry and serve as a global business platform, officials said.
BEXCO has concentrated its operations on linking local strategic industries with trade shows to widen business opportunities for companies. An analysis of its regional economic impact last year put the production-inducing effect at 2.581 trillion won and the employment-inducing effect at 22,000 jobs. Among Busan's city-invested and city-funded institutions, BEXCO has also earned an "A" grade in management evaluations for 10 consecutive years, a record it counts among its main achievements.
Its support for corporate sales channels is reaching overseas markets. By pairing its own exhibitions with business programs at home and abroad, BEXCO helped advance about 2,100 contracts worth a combined 1.4 trillion won. In Vietnam, it co-hosted events including ENTECH Vietnam and the Vietnam International Machinery Industry Fair, supporting export consultations for Korean companies. In Vietnam, the number of export contracts pursued rose 49% from a year earlier to 412.
Its exhibition content is also shifting from established industries toward future industries. Drone Show Korea has grown into a specialized exhibition covering drones, future mobility and aerospace, while BEXCO's hosting of the World Smart City Expo produced 618 consultations with overseas buyers and export contracts worth 189.8 billion won in the pipeline.
BEXCO plans to strengthen its role in connecting local companies and industries to overseas markets through a shift to smart MICE that incorporates artificial intelligence and digital technology, along with a wider global network.
"Winning two government awards shows that we have established ourselves as a core business platform that helps revitalize the regional economy and supports Korean companies going global," BEXCO Chief Executive Lee Jun-seung said. "We will continue to lead the way in making Busan a world-class hub city."
