The meeting industry that the province has chosen as a new growth engine has been hit hard by the COVID-19 pandemic.
Insiders stress that the industry needs to respond to the fast-moving trends toward contact-free engagement.
Todd Thacker reports.


The meetings industry attracts large organizations to a particular destination, thereby driving economic growth to a range of local businesses.



However, this lucrative field, one which is considered to be a new growth engine for Jeju, has been badly impacted by the COVID-19 pandemic.



Of the 270 meetings and events planned to be held this year at Jeju’s massive seven-story International Convention Center, a whopping 193 have been canceled or delayed. That’s just over 70 percent.
Lost revenue for the center is estimated at 5.8 billion won.



The Jeju Convention & Visitors Bureau, which supports and brings meetings to the island, has also seen 50 out of 80 events this year either canceled or delayed.



As a result, related businesses such as meetings agencies, accommodations and restaurants have seen a knock-on effect in declining revenue.


In recent months the meetings industry has been temporarily relying on domestic demand to stay afloat. It is now seeking alternative ways to save itself in the long-term.

[Slug] Focus on new demand for contact-free events

Insiders say the industry has to move quickly to meet the new demand for carefully planned contact-free events for large groups of conference-goers.


Hybrid off-line on-line meetings, and smaller-scale meetings, are emerging as preferred alternatives.

INTERVIEW
Lee Byung-yoon / Managing Director, Korea Exhibition Organizers Association
From a broader perspective, when meetings are held online, localization and specialization play a central role in the meetings industry, as opposed to large and international meetings. Leaders in local communities will play a bigger role in the industry.

<인터뷰 : 이병윤 / 한국전시주최자협회 전무>
거시적인 차원에서 대형화, 국제화는 시대적 가치가 흘렀고요. 이제는 온라인화가 되면 대규모라는 개념보다는 지역화, 특화, 전문화되고 지역에 있는 리더의 영향이 더 커질 것으로 보입니다.



When it comes to the recovery of Jeju’s meetings industry, all eyes are on how quickly the industry can adapt to doing business in this new era of COVID-19.

Todd Thacker, KCTV