Global boat show successfully wraps up five-day run

HWASEONG, South Korea, June 13 (Yonhap) -- An international boat show has successfully wrapped up its five-day run after luring more than 350 local and foreign makers of boats and producing a record number of sales deals, the organizer said Monday.
The Korea International Boat Show 2011 was held from Wednesday to Sunday in waters off Hwaseong, 45 kilometers southwest of Seoul, marking its fourth year, the organizer said.
Industry watchers said this year's boat fair was the most outstanding and gained firmer footing on the global boat show stage in terms of recognition and revenues.
The Korea International Boat Show earned final approval on Saturday to become a member of the International Federation of Boat Show Organizers (IFBSO), paving the way for the boat show to become a world-class boat fair.
The Korea International Boat Show became the fourth boat show in Asia to receive international certification from the IFBSO, after shows in Yokohama, Dubai and Shanghai, the organizer said.



In terms of performances, the Korea International Boat Show posted marked improvements this year by clinching a record number of export deals, the organizer said.
Fresh contracts worth a total of 57 billion won (US$52.5 million) were clinched on Sunday alone, bringing the value of all the deals clinched during the five-day run to 60 billion won, the organizer noted.
This figure far surpassed the contracts worth a combined 3.4 billion won registered during the past three years at the boat show.
This year, the Gyeonggi provincial government focused on improving the quality of the boat show by luring big names in the global boat circle while reducing the number of participants.
The number of participating manufacturers was reduced to 366 from 443 registered last year, but top players -- U.S. boat makers Larson and Cobalt as well as Bellingham Marine from Australia -- took part in the boat fair.
To increase convenience, the event's organizer set up indoor and marine showrooms spanning a total of some 31,200 square meters. The indoor showrooms had 620 booths, and the marine exhibition centers had facilities to accommodate some 60 boats and yachts.
At the Korea International Boat Show, three local marine leisure companies -- Hyundai SeasAll Co., Greenshipbuilding & Heavy Industries Co. and Green Ocean Life -- agreed to a deal to develop boats and yachts.
Under the deal, Greenshipbuilding & Heavy Industries will produce a total of 14 catamaran ships worth around 17 billion won. The ships will be loaded with engines developed by Hyundai SeasAll Co. while Green Ocean Life plans to take charge of sales.
"The deal to localize boats and yachts was the fruits of years of efforts to develop the local marine industry and expand networks by holding the boat show for the past four years," said Gyeonggi Province Governor Kim Moon-soo.
But industry watchers said that even though the boat show was a success in terms of recognition and sales, finding a way to increase the number of visitors still remains an unsolved problem.
The number of visitors has been on a steady decline since 350,000 people attended the first Korea International Boat Show in 2008. This year, the number of visitors slightly topped the 120,000 mark, which is similar to that of last year.
Experts said it is necessary to boost efforts to attract more visitors by easing inconveniences in transportation or expanding cultural programs in a bid to spur the interest of local people.