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Busan to host 2005 APEC summit

2004.04.27
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Busan, South Korea's second largest city, won the right to host next year's Asia-Pacific Economic Cooperation (APEC) summit on Monday (April 26).

The committee handling preparations for the APEC 2005 discussed the selection of the venue for the biennial summit of 21 Asia-Pacific countries, in a three-way competition among Seoul, Busan and Jeju.

Busan won the honor, beating the bidders Seoul and the resort island of Jeju, to become the host for the biennial summit of 21 Asia-Pacific countries scheduled for Nov. 20-21, 2005.

The panel, comprising 19 specialists from the government and private sectors, held its fifth meeting to decide the host city at the Foreign Ministry's headquarters in central Seoul

The international gathering, slated for Nov. 20-21, is expected to attract some 15,000 foreign visitors, including political and business leaders in the region. Before the summit, high-level and joint ministerial meetings will be held on Nov. 14-15 and Nov. 17-18, respectively.

Korea will report the outcome of the selection process to other APEC members when it attends the senior officials' meeting in Chile next month.

During their gathering in Brunei in 2000, member countries of the APEC awarded Korea the right to host the forum next year.

The APEC members are Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, South Korea, Taiwan, Thailand, the United States and Vietnam.

The regional organization was established in 1989 to promote economic cooperation among member countries, but its agenda has recently been expanded to tackle security-related issues as well. Korea is one of the 12 founding members of the APEC.

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