Preparations are in full swing in Gyeongju, South Korea, as the historic city readies itself to host the Asia-Pacific Economic Cooperation (APEC) Summit in October.
Over 150 officials from the Ministry of Foreign Affairs, the APEC Studies Association of Korea, North Gyeongsang Province (Gyeongsangbuk-do), and Gyeongju City gathered at the “APEC 2025 KOREA Gyeongju Forum” held at the Gyeongju Hwabaek International Convention Center, the main venue of the APEC summit, late last month. Waving banners wishing for the event’s success, the participants emphasized their commitment to preparing for the summit “dandi” - a Gyeongsangbuk-do dialect meaning “thoroughly.”
This marks the first time in 20 years that a provincial Korean city, following Busan in 2005, will host the APEC Summit. Scheduled for late October this year, the event will bring together global leaders from 21 countries, including U.S. President Donald Trump, Chinese President Xi Jinping, and Japanese Prime Minister Shigeru Ishiba.s
Panelists suggested various ideas and opinions at the forum last month. “The gap between advanced and developing economies within APEC members regarding universal strategies for artificial intelligence (AI) is significant,” said APEC Studies Association of Korea honorary president Yoo Jang-hee. He proposed establishing an “APEC Knowledge Forum” as a means to bridge this gap.
Some details of the summit facilities were also announced. Accommodations for world leaders will be renovated by August, and the construction of the main summit venue at the Hwa Baek Convention Center is expected to be completed by September, according to Gyeongsangbuk-do. The province aims to secure additional funds through the government’s supplementary budget early this year. “We will work closely with the government, economic organizations, experts, and residents to ensure thorough preparations for the APEC Summit, said Governor Lee Cheol-woo.
In late October, leaders from 21 countries and CEOs of global companies will gather in Gyeongju. Gyeongsangbuk-do anticipates over 20,000 visitors for the summit. The province believes this event will elevate Gyeongju into a global city in terms of politics, economy, and culture.
The APEC Summit is more than just an international event. It is an inter-governmental forum where leaders from 21 Pacific Rim economies, including the United States, China, Japan, and Russia, gather to discuss economic cooperation throughout the Asia-Pacific region. The 21 APEC member economies account for 62.2% of the world’s gross domestic product and over half of global trade.
Gyeongsangbuk-do and Gyeongju City seek to leverage the APEC Summit as a platform for economic growth. Officials are working on inviting top executives from the world’s top 500 companies, including Tesla CEO Elon Musk.
Preparations are proceeding smoothly, according to officials. In Gyeongju, key facilities such as hotels and event venues are conveniently located near major summit venues, ensuring seamless accessibility for visitors.
The main conference venue, the Gyeongju Hwabaek International Convention Center, and the secondary venue, Yukbuchon, are within a three-minute drive. The city boasts 4,463 hotel rooms within a three-kilometer radius of the main venue and 12,812 rooms within a 10-kilometer radius. Neighboring cities, such as Daegu (1,470 rooms in 4-star or higher hotels), Pohang (240 rooms in 3-star hotels), and Ulsan (2,000 rooms in 3-star or higher hotels), will also support accommodations.
Luxury accommodations for heads of state are being prepared across 12 hotels, offering 35 presidential suites. The city is a cultural treasure trove, with historic sites like Bulguksa Temple and Cheomseongdae Observatory showcasing the beauty of traditional Korean heritage. Reflecting this cultural richness, Gyeongsangbuk-do plans to set up cultural experience centers at Gyeongju Expo Park, where guests can enjoy Korean Wave (Hallyu) content and traditional Gyeongbuk culture.
The Gyeongbuk Development Institute projects that the APEC Summit will generate 97.2 billion won ($670 million) in production, 465.4 billion won in added value and create over 7,900 jobs. Historical precedents, such as Los Cabos in Mexico—whose population grew from 70,000 to 340,000 after hosting the 2002 APEC Summit—highlight the long-term growth potential for host cities. Historical precedents suggest significant long-term benefits, with cities like Los Cabos, Mexico, host of the 2002 APEC Summit, experiencing growth in tourism.
With a rich history as the ancient capital of the Silla Kingdom and world-renowned cultural sites like Bulguksa Temple, Gyeongju hopes to leave a lasting impression through this summit.
The province has secured 171.6 billion won in government funding, allocated for operating expenses, remodeling the summit venue, constructing media centers, and building exhibition and banquet halls. However, this falls short of the 373.2 billion won initially requested by the province. Efforts are ongoing to secure up to 200 billion won in additional funds through supplementary budgets, focusing on improving accommodation, enhancing nighttime cityscapes, and constructing an APEC memorial park and museum.
“The Special Act on Supporting the Gyeongju APEC Summit was passed by the National Assembly on Nov. 28 last year, providing a solid legal and institutional foundation for hosting the event,” said Kim Sang-chul, head of the APEC Summit preparation team.
