KINTEX to Turn into the
Black Earlier than Expected

Forecast to post black figures in the second year since its inception

Korea International Exhibition Center (KINTEX), marking the second year since its inception, has established itself as one of Korea's representative exhibition centers.
KINTEX, who posted 280 million in operating deficit on sale of 14.1 billion won during last year, is forecast to chalk up 700 million won in black figures on sales of 21 billion won during 2007, earlier than expected. KINTEX,built with joint contributions by the Ministry of Commerce, Industry and Energy,
Goyang municipal government and KOTRA, earlier predicted that the exhibition center would meet both ends in 2008 due to initial huge investments and
KINTEX's earlier-than-expected posting black figures was primarily owed to a sharp increase in exhibitions and conventions it attracted thanks to aggressive marketing activities.
During 2006, KINTEX attracted 92 exhibitions, a 58 percent jump from 58 events in 2005 as well as 365 conventions,
representing an about 70 percent surge.
KINTEX President-CEO Kim In-shik said, "Operation rate reached at 51 percent during last year, meaning that exhibitions were held during more than half of the one year, and even though the operation figure falls behind a range of 70 percent Coex has registering, KINTEX is making a brisk growth, given the fact that it took four to five years for Pudong Exhibition Center in Shanghai and Singex Exhibitions in Singapore to see their operation rates hovering around 50 percent."
Major international exhibition centers show an average of 50 percent operation rate.
KINTEX's attracting traditional mega exhibitions since its opening was expected to position itself as one of internationally recognized exhibitions beyond Korea.
In reality, KINTEX has successfully hosted the nation's top seven exhibitions, including Seoul Motor Show, Korea Electronics Show, Korea Machinery Fair, Seoul International Machine Tool Show and Seoul Food & Hotel 2007 and G-Star in two years since its inception.
KINTEX CEO Kim said if and when the second exhibition hall is opened in2010, KINTEX will see its exhibition space rising to 100,000 sq. meters, making it a world-class exhibition.
SUCCESS OF EXHIBITIONS DEPENDING ON DISTINCT CONCEPTION AND CREATIVITY. A recent survey conducted by UFI, the Global Association of Exhibition Industry, indicated that business-to-business exhibitions will be still influential in the future or become more influential. The outcome of the survey strikes a sharp contrast to the general conception that the effectiveness of exhibitions attracting large numbers of spectators is feared to be undermined in the wake of the spread of Internet and globalization.
According to the survey, 7 percent of the pollees said the influence of B2B exhibitions will be short-lived, whereas 10 percent replied that they will be still influential and 83 percent said that they will become more influential. The survey found out that exhibitions have a tremendous impact on SMEs as 91 percent of the surveyed said they carry weight over SMEs.
As to what factors are behind the success of exhibitions, a majority of the surveyed said the most essential factor is concept of each exhibition, a non-price competitive factor, followed by creativity, quality service, public relations and marketing.
KINTEX CEO Kim said several quasi-exhibitions have sprung up like mushrooms after rain due to a surge in demand and concern on exhibitions, and the reason is that a consensus is building up that exhibitions are the most effective marketing tools. He noted that the success of exhibitions hinges on whether they can focus on creating the value for customers - whether they can meet customers'demands for making exhibitions distinctive and creative.nw

(inset) KINTEX President-CEO Kim In-shik and a general view of KINTEX in Goyang City, establishing itself as one of the nation's representative exhibition centers.

(from top photo) a view of the Seoul Motor Show 2007, held at KINTEX, an inside view and a night view of the exhibition center.