COEX wants to become a major MICE destinationByun Bo-Kyung, president and CEO of COEX, said yesterday he plans to develop the area around the COEX Convention and Exhibition Center in Samseong-dong, Gangnam, southern Seoul into the world’s best MICE cluster at a press conference yesterday.
MICE is an acronym for the Meetings, Incentive Travel, Convention and Exhibition industries, and the MICE industry is one of the fastest growing segments within the tourism industry, generating millions in revenues for cities and countries. Europe and United States are the major markets destinations for meetings, conferences and exhibitions.
COEX and the Korea International Trade Association (KITA) plan to improve the area by emphasizing the Korean wave of cultural products, shopping and concerts and strengthening the local exhibition and convention industry. For the first project of the MICE Cluster, COEX is preparing a Sebeto (which stands for Seoul, Beijing, and Tokyo) Gangnam Festival in May 2015, with a goal of attracting more than 100,000 tourists and $150 million in foreign exchange earnings.