[Edaily Reporter Oh Hee-na ] The structure of Seoul’s MICE (Meetings, Incentives, Conferences, and Exhibitions) industry, which has long relied on attracting external events and organizations, is undergoing a transformation. This shift comes as the “Seoul-Based International Conference Promotion Project” (S-BIC)—a five-year initiative launched in 2022 by the Seoul Metropolitan Government and the Seoul Tourism Foundation—begins to yield tangible results.
Private conference organizers (PCOs), which previously acted as agents for external events, are also expanding their business scope to become organizers with their own event brands. Some companies are even preparing to expand overseas by taking direct responsibility for everything from identifying topics to attracting participants and sponsors, developing content, establishing revenue models, and building overseas networks. A new MICE business model, in which the event itself is utilized as intellectual property (IP), is beginning to take root.

◇From Event Management to In-House Content Business
According to the Seoul Tourism Foundation on the 23rd, the average number of participants for the three events selected for S-BIC’s ongoing support program increased more than 2.8-fold, from 499 in 2023 to 1,410 this year. During the same period, the number of foreign participants surged 3.3-fold, from an average of 49 per event to 161. The proportion of paying participants—those who paid a registration fee to attend—also rose to 45 percent.
For a professional conference organizer (PCO) to host its own events, operational capabilities alone are not enough. It must design themes and programs that resonate with the market, persuade international speakers and companies to participate, and recruit attendees. It is also the organizer’s responsibility to secure revenue streams—such as registration fees, sponsorships, and exhibition booths—and to manage customers who will return for future editions.
The content and attendee networks accumulated through this process become assets for the planning firm. Along with securing new agency contracts each time, they develop their own event IP (intellectual property) to create a foundation for recurring revenue.
Chris & Partners’ “Seoul Meta Week” is a prime example that best illustrates this shift. Total attendance, which stood at 780 in 2022, has grown to 2,233 this year, while the number of international attendees has nearly quadrupled, rising from 62 to 235. It is widely acknowledged that the key to this success has been the company’s consistent effort to build awareness by expanding the range of technologies and topics showcased at the event each year, in line with its concept as a platform event featuring diverse tech content.

Opener D.C. has evolved the event, which began in 2022 as “Connect Code,” into “Game Icon Seoul” this year. By extending the event duration from one day in its first year to three days, the number of participants increased from 238 to 984. This year saw a record-high 145 international participants, indicating that demand for the event is expanding beyond Korea to the international stage.
Dot Planner evolved its brand into “Futura Canvas,” which bridges art and technology, at the 2023 “Crypto Art Seoul.” The number of participants rose from 136 in the first year to 1,012 this year, while the number of international participants more than doubled, from 49 to 102. This year’s event also marked an attempt to hold the event at unique, small-to-medium-sized venues rather than specialized conference facilities such as convention centers or luxury hotels.
To sustain the event independently, a certain level of participant demand and a stable revenue structure are essential. This year, Futura Canvas diversified its ticket types based on participants’ objectives. While lowering the barrier to entry for creators and students facing significant financial burdens, the organizers sold tickets at relatively higher prices to participants seeking new business opportunities, offering them business networking programs such as one-on-one meetings, networking lounges, and dinners.
Kim Ji-yoon, CEO of Dot Planner, stated, “Rather than simply attracting a large number of participants, we are preparing to introduce a membership system to secure ‘genuine’ participants who return year after year.” She added, “Our goal is to create a stable, self-sustaining revenue structure that does not rely solely on sponsorships.”

◇ Growth of Private International Conferences Confirmed… “Expanding the S-BIC Brand”
It takes time for a new international conference to gain a foothold. In the early stages of validating content and securing participants, it is difficult to generate revenue, and gaining the trust of international speakers and partners is no easy task. The S-BIC support program serves as a reliable ally and facilitator for new events that require a long-term commitment to become established.
The S-BIC support program provides funding for event costs, consulting, training, and promotion and branding for up to five years, depending on the stage—Pilot, Internationalization, or Global. The maximum funding per stage is 40 million won, 80 million won, and 120 million won, respectively, with the organizer’s financial burden and domestic and international participant targets determined annually through evaluation.
CEO Kim Ji-yoon explained, “For an event to establish itself as an offline platform that people want to return to every year, it must build trust—the feeling that ‘I can trust this place’—in addition to offering attractive content and generating buzz.” She added, “S-BIC helps organizers weather the time it takes to build that trust while also enhancing the event’s credibility through the Seoul Metropolitan Government brand.”
The foundation plans to introduce a pilot program to validate the business structures and revenue models of new events, thereby strengthening tailored support for each stage of growth. To achieve the dual goals of fostering locally-based events and attracting international events, the foundation is also considering expanding its support to include events co-hosted by associations and companies. This decision is based on the belief that when associations and companies—which possess industry-specific expertise and networks of members and customers—are connected with the planning and operational capabilities of PCOs, it can serve as a foundation for identifying new topics and participant demand.
An official from the Seoul Tourism Foundation stated, “Through five years of operation up to this year, we have confirmed the potential for PCOs to directly plan and host events while developing content, revenue models, and overseas networks.” The official added, “We plan to cultivate S-BIC itself into a brand that symbolizes and represents international events held in Seoul.”