The city of Gyeongju is filled with excitement following its apparent nomination to host the 2025 Asia-Pacific Economic Cooperation (APEC) summit.
Gyeongju in North Gyeongsang was recommended as the host city for the APEC summit last Thursday. A recommendation committee selected Gyeongju from among other candidates, with another committee set to confirm the host city later this month. Incheon and Jeju also competed for the nomination.
This marks the first time in 20 years that Korea will host the APEC summit, the last being in Busan in 2005.
Banners congratulating the nomination are easily spotted across the city. “Gyeongju hosts the 2025 APEC, thanks to the effort of all Gyeongju citizens,” one banner read.
Lawmakers representing the city also celebrated the apparent nomination.
“We succeeded in being named host of the 2025 APEC summit in Gyeongju as a team with the citizens of Gyeongju,” People Power Party Rep. Kim Seok-ki wrote on his Facebook page.
APEC is an annual economic forum that brings together 21 Asia-Pacific economies to discuss cooperation in trade and investment. It is recognized as one of the oldest forums in the Asia-Pacific region, representing nearly 40 percent of the world’s population, 50 percent of global trade and over 60 percent of the global economy. Around 6,000 officials and business workers attend the event during the summit period.
“It is amazing that such a major event bringing leaders from around the world will be held in Gyeongju,” said Park Yoon-gi, a 44-year-old resident of the city. “I hope this will help showcase the beauty of Korea and revitalize the local economy.”
Hosting the event is expected to bring an economic boost of around 972 billion won ($700 million) and create 7,908 jobs, according to an analysis by the Daegu Gyeongbuk Institute in July 2021. The international event is also anticipated to promote the city’s businesses related to nuclear power, as well as industries in neighboring cities, such as steel manufacturing in Pohang, automobiles and shipbuilding in Ulsan and semiconductors and the defense industry in Gumi.
On Sunday, the Gyeongbuk provincial government convened an emergency meeting to plan the budget and discuss forming a committee for hosting and promoting the event.
“Gyeongju was one of the world’s four major cities along with Xi'an, Rome and Istanbul 1,500 years ago, but it has declined into a small city due to its failure to keep up with industrial development,” North Gyeongsang Gov. Lee Cheol-woo wrote on his Facebook page on Saturday. “We will exert every effort to host the 2025 APEC summit more splendidly and meaningfully so that Gyeongju can once again emerge as a city of historical, cultural and tourist significance.”
Gyeongju Mayor Ju Nak-young also promised to host the most successful APEC summit “by pooling all resources” and to “seize the opportunity to share with the world the roots of Korean identity and the origins of the country’s economic miracle.”
Meanwhile, the Incheon city government announced it would request the government to reconsider the decision, citing Gyeongju's violation of bidding rules.
"The Foreign Ministry's announcement states that the applicants cannot amend their applications after the April 19 deadline," Incheon Mayor Yoo Jeong-bok said during a press conference held at the City Hall on Friday.
"However, according to media reports from Daegu and North Gyeongsang, Gyeongju modified its original application by changing the layout for major conference rooms and arbitrarily expanding the hosting area to other cities and provinces."
The Incheon mayor said he would issue the city's official statement after meeting the foreign minister, stressing that the ministry needs to clarify its decision, which appears to contradict its own guidelines.
_21%EB%B2%88.jpg?type=nf190_130)
