[THE INVESTOR] Information and communication technology ministers, high-ranking government officials and business leaders in the telecom segment are set to flock to the southern port city of Busan in Korea to participate in ITU Telecom World 2017, one of the UN’s largest ICT events, scheduled to be held from Sept. 25 to Sept. 28.

The quadrennial ICT conference serves as a venue where participants can share information on current trends in the sector and discuss what needs to be done to accelerate innovation and to overcome hurdles along the way.

Bexco, where the ITU Telecom World 2017 will be held from Monday (Busan City)

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For startups and small and medium-sized firms, the event offers the opportunity to find future partnerships and to introduce their technology, products and solutions to the overseas markets.

The preparatory committee of the event organized by the International Telecommunication Union, a UN agency handling global ICT issues, expects that around 8,000 officials and experts from governments, academia and the business sector will join the ITU event, and some 40,000 spectators will visit Bexco, an exhibition center and the ITU event venue in the city.

Meetings among Korean ICT Minister Yoo Young-min and South American ICT ministers, and a policy setting meeting among officials from Asian ICT government agencies will take place during the four-day conference, while a series of ICT-related forums, exhibitions, and an awards ceremony will be held as sideline events.

The Telecom World conference will generate 117.9 billion won ($104 million) worth of production, 49 billion won worth of added value and create 1,071 jobs in the port city, according to the host city.

“The ITU Telecom World conference will become a springboard for local ICT firms to jump into the global markets, and help vitalize the local economy,” said an official from Busan Metropolitan City Government.

The conference takes place after representatives of ITU’s 193 member states gathered in the city in 2014 to discuss ICT issues, including internet governance, at the ITU’s Plenipotentiary Conference, a meeting aimed at setting and revising the UN agency’s general policies.

By Kim Young-won(wone0102@heraldcorp.com)