Financial help for small-and-medium sized events hosted in South
Korea is now available, alongside already established subsidies for
medium- to large-sized events.
The subsidies Korea Tourism Organization, available from this year,
will apply to in-person events and hybrid ones only and follow a
decision from last September to amend the International Conference
Industry Promotion Act. Online meetings, which were temporarily
supported due to the Covid-19 crisis, will be excluded from support
starting this year.
Events taking place in South Korea with a total of 100 or more
participants, and which include 50 or more foreigners from three
countries, are now eligible for subsidies.
Other conditions state that the international conferences or events
must last more than two days, and must be hosted by organisations and
companies (including international organisations, institutions, and
academic associations) which have a unique registration number in South
Overseas organisations or associations that are not registered in
South Korea can also receive support by designating a convention bureau
The subsidy amount ranges from 10 million to 60 million won (US$7,584
to US$45,507), depending on the number of participants. Up to 60% of
additional support will be provided based on an evaluation of events
held outside the metropolitan area, the use of Korea Unique Venue and
the Standard Contract for International Conference Services, compliance
with Sustainable Event Management (ISO20121) guidelines, and more.
Support for hybrid events is 20,000 won per foreign online participant, up to 10 million won.