G20 Seoul Summit estimated to have 24 trillion won effect

The economic ripples of the G20 Seoul Summit, scheduled to take place on Nov. 11-12, are estimated to exceed 24 trillion won, Samsung Economic Research Institute (SERI) reported on Sep. 15.

The total amount of both direct and indirect economic effects for the upcoming international gathering will amount to some 24.6 trillion won, including the direct economic effects of up to 0.1 trillion won, the report said.

Meanwhile, the national brand of Korea is expected to improve due to hosting such a major international event.  Hosting the summit in Seoul reflects Korea’s rising status in the international community and its role as a leader of emerging economies, according to the report.

The economic value of the conference is nearly equal to the value of exporting 1 million Hyundai cars or 165 300,000-ton oil tankers, the report went on to say.

These figures are three times higher than the economic effect of Korea’s national brand promotion from hosting the Korea-Japan FIFA World Cup in 2002, SERI reported.

Source : http://korea.net

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One Response to G20 Seoul Summit estimated to have 24 trillion won effect

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