-World Korean Business Leaders Conference Held in Incheon from the 27th to the 30th-
The 29th World Korean Business Convention and the 2025 Korea Business Expo Incheon will be held at Songdo Convensia in Incheon from the 27th to the 30th of this month.
Incheon City (Mayor Yoo Jeong-bok) was selected as the host city following an on-site inspection after applying to host the event last August. It was recognized for its △excellent international accessibility △diverse industries and infrastructure △international business environment and rich event experience.
This event is the largest international economic gathering held since the Overseas Koreans Foundation opened in Incheon, with approximately 2,000 participants expected, including overseas Korean businesspeople, international buyers, and domestic entrepreneurs.
Centered on the theme ‘Globalization of the Korean Economic Network and Sustainable Cooperation,’ the conference will feature diverse programs including △Trade Committee Meetings △Export Consultations △Investment Promotion Briefings △Global Startup Competition △Global Job Fair △Cultural Performances. It is expected to serve as a platform connecting the global capabilities of overseas Korean businesspeople with the competitiveness of domestic industries.
Significance of Hosting the World Korean Economic Conference in Incheon
Hosting this World Korean Economic Conference in Incheon holds significant meaning in three aspects.
First, it demonstrates tangible achievements in overseas Korean policies.
Since the opening of the Overseas Koreans Agency in June 2023, Incheon City has laid diverse foundations to leap forward as the ‘central city for overseas Korean policies’ and the ‘hub city for the Korean network’.
It has pursued core tasks such as establishing a business hub for overseas Koreans, attracting foreign investment, and expanding global employment opportunities for youth. As a result, it successfully secured the hosting rights for the 2024 World Korean Entrepreneurs Convention.
Through this convention, the city plans to leverage its established administrative foundation to expand into tangible industrial and economic achievements.
Second, it strengthens Incheon's global competitiveness.
Incheon is a representative global city of Korea, equipped with world-class airports, ports, and high-tech industrial complexes, offering excellent accessibility to major Asian economic hubs. This conference will serve as a tangible opportunity to showcase Incheon's core industries—K-Beauty, K-Food, bio, IT—to the global market and expand overseas investment and exchange.
Third, strengthening the solidarity of the Korean economic network.
The event will bring together Korean businesspeople from around the world to exchange ideas, fostering not only investment, trade, and startup cooperation but also strengthening solidarity across generations and nations. This imbues the event with new symbolic significance as a re-unification of the Korean community through economic ties.
Regional Economic Impact and Expected Outcomes
According to an analysis by the Incheon Research Institute, the direct and indirect economic effects from hosting the 29th World Korean Economic Conference are estimated to reach approximately 11.7 billion won.
This includes a production-induced effect* of 7.1 billion won, an added value-induced effect** of 4 billion won, and an employment-induced effect of 102 jobs. It is expected to stimulate related industries such as lodging, transportation, tourism, and dining.
* The ‘total production value’ generated additionally across the entire economy through a specific project or event, indicating the scale of money circulation.
** Refers to the portion of the production-induced effect that remains as actual income, such as workers' wages, corporate profits, and taxes.
In particular, the approximately 4.6 billion won in consumer spending by event participants is expected to directly boost sales for local small businesses and the service industry.
Furthermore, at the 2025 Korea Business Expo Incheon venue, SMEs from the Incheon region will engage in consultations with overseas buyers through corporate exhibitions and export consultations. Considering the precedent set at last year's Vienna, Austria event where Incheon companies secured export contracts worth approximately $12.58 million (about 17 billion won), significant overseas export achievements are anticipated at this event as well.
Moreover, the Shared Growth Committee is participating as a co-host for the first time at this event. A Shared Growth Purchasing Consultation Session will also be held, where large corporations and public institutions will support domestic SMEs in developing domestic sales channels.
Incheon City is focusing on enhancing the city's brand value beyond short-term economic effects through this event.
During the competition period, the Incheon Promotion Pavilion and the ‘Year of Overseas Koreans Visiting Incheon’ promotional booth will operate at Songdo Convensia. Planned activities include a participant stamp tour, a companion wellness tour, performances at the Incheon Culture & Arts Center, and industrial tours of high-tech companies and the Global Campus.
Notably, the welcome performance hosted by the Incheon City Dance Company and the welcome banquet featuring Incheon's representative traditional liquor will showcase the city's identity as an ‘international event where culture and economy converge’.
Following the event, a database of participating companies and overseas businesspeople will be established. This will facilitate follow-up networking and investment attraction activities, completing a ‘sustainable Korean business network model’.
Hosting the World Korean Business Leaders Conference in Incheon will be a historic turning point, simultaneously realizing three pillars: advancing overseas Korean policies, globalizing local industries, and strengthening the Korean economic network.
Incheon Mayor Yoo Jeong-bok stated, “Hosting the World Korean Economic Conference in Incheon is a symbolic turning point demonstrating that Incheon, home to the Overseas Koreans Affairs Agency, is the undisputed hub of the Korean network,” adding, “This conference will serve as a turning point for Incheon to leap beyond Korea and become a global economic city.”
Meanwhile, the ‘World Korean Economic Conference’ is an event organized by the World Korean Economic and Trade Association (WKEEA) and sponsored by the Ministry of Trade, Industry and Energy, the Korea Trade-Investment Promotion Agency (KOTRA), and the Overseas Koreans Agency. It has been held annually in October since 1996, alternating between domestic and overseas locations.
