[Sponsored Report] Incheon readies the red carpet for ADB

Incheon Metropolitan City Mayor Park Nam-choon, left, is getting ready to host the 53rd Asian Development Bank (ADB) annual board of governors meeting in Songdo, Incheon, above, in May 2020. [INCHEON METROPOLITAN CITY]

Incheon Metropolitan City Mayor Park Nam-choon is getting ready to host the 53rd Asian Development Bank (ADB) annual board of governors meeting in Songdo in May 2020.

The ADB’s board of governors meeting, known as the annual meeting, is one of the biggest events in the bank’s calendar, with all 68 member countries taking part. The meeting has been held annually since the establishment of the bank in 1966.

Around 5,000 people will take part in the meeting, including government officials, central bank governors, international monetary institutions, businessmen and academics.

Korea has been a member of the ADB since it was established and has hosted the annual meeting twice - the third and 37th meetings. Korea has transitioned from benefitting from the help of the bank to being a major donor country by utilizing the aid of the ADB in the Saemaul Movement and other economic policies.

The 2020 ADB annual meeting venue was selected through votes from member countries on Jan. 29. The annual meeting is expected to be an opportunity to share the development of Korea’s experiences of how it was able to achieve such great economic development through the years.

Through a series of events, domestic corporations and financial institutes will have the chance to communicate with ADB officials and Asian-Pacific regional policymakers. The ADB meeting is anticipated to boost collaboration between southern and northern Asian countries, along with contributing to the foundation of peace and unity on the Korean peninsula.

The main theme of the meeting this year is “Asia 2020: Innovation, Embracement and Integration.”

The theme was selected to show the sustainable development plan of Songdo and to promote the plan for more effective regional development across Asia. Incheon will proudly show off its Songdo Convensia Phase 2 complex to show visitors that Korea is now one of the best venues for international meetings.

“We are planning to make Incheon Metropolitan City into an international meeting-friendly venue by boosting the infrastructure for meetings, incentive tours, conventions and exhibitions, such as Incheon International Airport, Songdo Convensia and international meeting integrated district,” said Mayor Park.

Park also stressed the importance of using the 2020 ADB annual meeting as an opportunity for Incheon to foster a strong partnership with the bank and to provide chances for Incheon-based corporations to collaborate and advance in other Asian markets.

BY KIM SEUNG-JUN [kim.seungjun@joongang.co.kr]