The Korean International Boat Show held at Jeongok Harbour and Marina close to capital city Seoul is sold out. With seven weeks to the opening on 08 June, a total of just under 230 exhibiting companies will participate with 100 organisations from overseas.
Special Adviser to the show, Tim Coventry, remarked ‘This year we have seen a definite shift to more domestic exhibitors, clearly indicating the local market development with increased Korean representation for imported brands and a growth in Korean industry activity’.
With strong Central Government support for the emerging marine leisure industry, supported by the Provincial Government’s provision of purpose-built marine industrial complexes, the development of the industry is following a model that has led South Korea to become leaders in many other areas. With a national plan now implemented to build 43 new marinas and a Government sponsored R&D fund to encourage new technology, there are also opportunities for established international companies.
Australia is currently leading the field to take advantage of this new market. Marina constructor Bellingham Marine has a locally-based operation and Superior Jetties is the supplier for the prestigious 60 berth new marina in Seoul City centre on the Han River opening this month. West Australian catamaran builder Fusion has entered into a joint venture, and the first 40ft catamaran to be built in Korea is nearing completion.
’Korea is ideally located as a hub supply base for North East Asia and has close trading links with China’ said Coventry. ‘The Economic Free Zones make manufacturing locally very attractive, and the growth in domestic demand that we will see in the next five years will make Korea a ‘must include’ for all those who are serious about the new Asian market’.
The Korean International Boat show runs 08-12 June. For more information see www.koreaboatshow.org