Exhibition & Convention Powerful steps needed to promote convention industry in Korea The organizing of a good trade show is like fishing, so it is very important to consider what kind of fish you are going to catch and where. In this respect, convention & exhibition experts should be professional anglers,' said Chris Maeng, president & CEO of IPR Forum. In an interview with the Korea IT Times, Maeng said, 'In the early stage, Hong Kong was known as a shopping and financial center. However, Hong Kong is now reputed to be Asia's trade fair capital. 'The key reason behind the advanced exhibition industry of Hong Kong stems from its outstanding organizing know-how and excellent ability to attract qualified international buyers,' said Maeng. IPR Forum is a global marketing management company specializing in conventions, exhibitions, investment promotion and product launching, as well as marketing consulting. Since its establishment in 1982, IPR has earned its reputation as an industry leader in Korea. Acting as a Korea Consultant Office of the Hong Kong Trade Development Council (HKTDC) since 1990, IPR Forum has developed close working relationships with key governmental bodies and major Korean trade associations. It also developed vast cooperative networks with global firms and organizations in more than 50 countries around the world. Maeng said, 'All staffs at the HKTDC act like salesmen. It covers all data related to exhibitions, trade, tourism, diplomacy and others. HKTDC receives financial support from the government for only 15 percent of its total expenditure, so it has to shoulder the remaining 85 percent with its own financing.' 'I think the Korea Trade-Investment Agency (KOTRA) needs to develop more projects to increase their own revenue and it should be more active in organizing revenueearning events. Currently, all staff members of the HKTDC are making all-out efforts to globalize Hong Kong as the center of the convention and exhibition industry. 'Meanwhile, there are in Korea the Convention & Exhibition Center (COEX), Korea International Exhibition Center (KINTEX), and Busan Exhibition & Convention Center (BEXCO). They should organize conventions and exhibitions to meet the requirements of customers to the maximum extent, discarding the previous conception as a venue operator or a show producer. And KOTRA may well take an initiative in staging such a movement,' said Maeng. The United States holds as many as 10,000 exhibitions annually and China has some 3,000 exhibitions. In the meantime, Korea holds just 300 exhibitions. In particular, China is building the world's largest exhibition center in Beijing. In Macao, the tycoon who started COMDEX in Las Vegas is building an exhibition and casino center. Germany and the UAE are upgrading and building giant exhibition centers. This means that global competition in the exhibition industry is getting fiercer than ever before. 'In the meantime, Korea still lags behind in terms of organizing ability and know-how in the exhibition industry compared with advanced countries. Moreover, it needs a lot of talented people with a good command of English,' he said. Noting that the Korean government has not yet implemented powerful policies to support the exhibition industry, Maeng pointed out, 'But China is very aggressive. The Chinese government said last year it would actively foster the exhibition industry in such a way as to spend $8 billion on new facilities and boost the present 0.07 percent of the GDP to 1 percent, like in Germany.' The comparable portion of the exhibition industry in Korea is now about the same 0.07 percent, and the Korean Ministry of Commerce, Industry and Energy (MOCIE) said it is planning to raise the portion up to 1 percent. But, it is far off to achieve the target under the present circumstances. 'The Seoul government should come out with powerful measures to develop the exhibition industry like in China,' said Maeng. In addition, Korea should produce and train more convention experts who can communicate in English smoothly and distribute a slew of PR leaflets written in perfect English, he said. 'Korea ought to organize exhibitions that do not simply display goods and services but make international buyers visit again. While the exhibition industry of Hong Kong has enjoyed brilliant development, Korea's exhibition industry has stuck to the principle of 'safety first,'' he said. Korea's exhibition industry must get rid of such shortcomings and be reborn as a main body of international exhibitions. 'It is difficult to outperform your competitors when you organize exhibitions with the same conditions as those offered by other exhibitions. Accordingly, it is very effective to hold excellent matchmaking events during the exhibition period. We need to invite buyers directly and have consultations with them, trying to solve their possible problems,' said Maeng. Most of all, those involved in organizing exhibitions should make all-out efforts to publicize their conventions and exhibitions through forums or seminars, he said. Asked about the IPR Forum, Maeng said, 'I set up the IPR Forum in 1982. Before establishing the company, I worked for the Hyundai Group, especially for the late chairman Chung Juyung, taking charge of international PR and customer relations.' IPR Forum represents or assists in more than 300 marketing events every year and serves as the official sales agent for HKTDC, SES, VNU, Advanstar, Montgomery Group, Hung Expo, Nuemberg Messe, ITE Group, CMP Media, and Japan Management Association, just to name a few.

The following are excerpts from an interview with Chris Maeng, president & CEO of IPR Forum... Ed. Q: The exhibition and convention business of IPR Forum is focused on small venture companies. Such dealings on behalf of smaller companies have been operated by government agencies, including KOTRA, in general. Nevertheless, IPR has enjoyed remarkable development. What is the secret At present, the number of our staff is about 30. It is a relatively big number for a company engaging in the exhibition and convention business in Korea. In the early 1980s, we engaged in the overseas print media sales agent business. In 1988 when Seoul hosted the 1988 Olympics, we concentrated our efforts on international outdoor advertisements. At that time, only 10 business groups, including Samsung, LG, Hyundai and Korean Air, had global outdoor advertisements. Considering that Korea is an export-led country, I had a thought at that time that exhibitions would be very helpful to small and medium- sized companies, rather than printing advertisements and outdoor advertisements. From 1989, we started to launch a wide range of marketing business for HKTDC. Q: Would you comment on the motives and process that got your company started in the exhibition business From the latter half of the 1980s, I considered the international exhibition business. At a meeting of branch heads of the HKTDC in 1992, I was responsible for the presentation that Hong Kong should foster the exhibition industry. Related to this, the Hong Kong government and the HKTDC jointly outsourced a research with Harvard University and MIT on the most effective way for the promotion of small companies in Hong Kong. According to the survey results, the universities replied that Hong Kong should build world class exhibitions and attract overseas buyers, considering the fact that over 80 percent of Hong Kongbased company officials make overseas sales trips for more than 150 days a year. Since 1992, the exhibition industry in Hong Kong has showed remarkable development. Q: IPR Forum is a private company. Do you have any difficulties in operating as a private company We are providing Korean customers with full services to help them attain the best business results. If the government extends financial support to the IPR Forum, we can deal with our businesses more effectively for small and medium-sized enterprises. KOTRA has a variety of international assignments to do. However, we can converge all of our energy and strength to concentrate on the exhibition and global marketing business for Korean traders. We are now engaging in the exhibition business in more than 50 countries, including Vietnam, China and India.