The leaders of the 20 biggest economies will attend the Nov. 11-12 summit and more than 100 corporate chief executives will participate in a forum of global corporate CEOs scheduled for Nov. 10-11.
The events are expected to draw more than 1,000 government officials, businesspeople, academics and journalists from across the globe.
Korean companies in various sectors including telecom, electronics, automobile and retail are waging promotion campaigns to take advantage of the premier forum of global economic cooperation.
The G20 summit is forecast to contribute 31.2 trillion won ($27.7 billion) to the national economy, according to the Korea International Trade Association.
They estimate that the summit will help lift Korea’s exports by 3.9 percent, worth over 20 trillion won, in the medium and long term. Its spin-off effect will reach 10.6 trillion won, feeding through 166,000 new jobs, KITA says.
The economy will earn nearly 97 billion won from summit participants’ spending and 170 billion won from corporate advertisers, the report
According to a survey by the Korea Chamber of Commerce and Industry, nearly 70 percent of its 310 member companies think the upcoming summit will have a positive impact on local economy.
Nearly 54 percent of respondents said the summit would boost trade by improving the nation’s image, while 23 percent pointed out investment growth and new business opportunities as the advantages of the two-day event.
Marketing campaigns for the G20 summit are in full swing at automobile manufacturers such as Hyundai Motor Group and local units of BMW, Audi and Chrysler, as they will be riding the delegates and their company from all around the world.
Hyundai Motor’s flagship luxury sedan Equus Limousine is chosen as official vehicles for the G20 leaders. BMW’s 750 Li, Audi’s A8 and Chrysler’s 300c will be carrying their spouses and international organization chiefs, the organizing committee said.
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