Overseas Koreans Agency to be Opened at Booyoung Songdo Tower in Incheon
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Overseas Koreans Agency to be Opened at Booyoung Songdo Tower in Incheon
MOFA decides to move the newly inaugurated agency into the tower on June 5

26(Fri), May, 2023

Incheon Mayor Yoo Jeong-bok speaks at an event to celebrate Incheon’s attracting of the Overseas Koreans Agency at the plaza of Incheon City Hall on May 16. (Photo: Incheon Metropolitan City)

The new inaugurated Overseas Koreans Agency in charge of policies and projects related to overseas Koreans will be opened at the Booyeong Songdo Tower in Songdo International Business District, Incheon.

The Ministry of Foreign Affairs (MOFA) said the Overseas Koreans Agency under the umbrella of MOFA will be inaugurated in Incheon on June 5. 

Incheon Mayor Yoo Jeong-bok said the Incheon Metropolitan City government attracted the new Overseas Koreans Agency to Incheon. 

The agency, being established under the umbrella of MOFA, will serve as a Korean hub of 7.5 million overseas Koreans. The new agency will set up an integrated public service center in Seoul.

Finance Ministers & Central Bank Governors Assemble in Incheon for ‘Future of Asia’

Economic and financial leaders from 66 countries converged in Incheon, a world-class city, to discuss the economic order of the Asian region in a post-COVID-19 pandemic era. 

The 56th Annual Meeting of the Board of Governors of the Asian Development Bank took place at Songdo Coventia from May 2 to 5. An opening ceremony of the 56th ADB Annual Meeting was held on May 3. 

ADB is an international financial institution, designed to promote Asia’s economic growth and economic cooperation and spur the economic development of developing countries in the Asian region. 

The ADB annual meeting brings together finance ministers and central bank governors to discuss each country’s economic policies and promote regional cooperation. 

The 56th ADB Annual Meeting, hosted by the Ministry of Economy and Finance (MOEF) and organized by Incheon Metropolitan City, took place with about 5,800 people in attendance, the most size in the history of ADB.

The latest annual meeting was held under the theme “Rebounding Asia: Recover, Reconnect, and Reform.” It was the first in-person annual meeting held in three years due to the spread of COVID-19 pandemic. 

The 56th ADB Annual Meeting served as an opportunity to resume economic cooperation, which was interrupted due to the pandemic and help Asian countries overcome a crisis and discuss a sustainable future. 

Korea, a founding member country of ADB, is the sole ADB member country which has shifted from a recipient to a donor country. Incheon has grown into a world-class city based on infrastructure, such as the Gyeongin (Seoul-Incheon) Highway and Incheon Port — built with ADB loans. 

It takes on significance since the 56th ADB Annual Meeting is taking place in Incheon, Korea, to discuss Asia’s leap forward. 

Starting with an opening ceremony, ADB and MOEF held the Business Session designed to discuss ADB’s major agenda, the Governors’ Plenary designed to discuss Asia’s economic direction and future, and the Korea’s Business Briefing Session designed to introduce Korean companies and technologies, in addition to K-pop concerts and traditional Korean performances designed to introduce Korea’s culture.
Incheon Metropolitan City, the venue of the 56th ADB Annual Meeting, has offered support so attendees can participate in a safe and convenient fashion. 

Incheon has devoted itself to holding the annual meeting in a safe and pleasant fashion by utilizing eco-friendly hydrogen buses to transport attendees and conducting medical, firefighting, hygienic, disinfection check-ups. 

Participants were also given the chance to tour Incheon’s major tourist spots, such as Ganghwa Island, “Incheon Open Port” and Songdo International City. 

Incheon held events, such as a luncheon, hosted by the Incheon mayor on May 4 and a drone show on May 3, spurring a warm-hearted welcome to participants and returning home with memories with a good reception toward Incheon. 

In addition, Incheon installed at the venue of the ADB annual meeting a pavilion designed to introduce Incheon’s startups, bio companies and Incheon Economic Free Zone, serving as an opportunity to showcase Incheon’s excellent investment conditions. 

Incheon’s hosting of the ADB Annual Meeting is expected to raise the city’s global standing and have an effect of spurring the tourism and MICE industries. 

In particular, diverse international events and forums are scheduled to be held in Incheon on top of the 56th ADB Annual Meeting, and they are expected to bring an affirmative influence to Incheon’s bid to attract the 2025 APEC Meeting. 

Incheon Mayor Yoo Jeong-bok said, “Through the successful hosting of the ADB Annual Meeting, we will do our utmost to have ADB’ value of co-prosperity in Asia further shined and help Incheon rise up as a super world-class city in Asia.” 

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