Seoul will be hosting the Council and Committee Meeting of International Actuarial Association (IAA) 2021, the first time the IAA meeting will be held in South Korea.
The IAA conference will bring 400 actuary experts from all over the globe from October 10-15 next year. The twice-yearly meeting is where the board and committee members discuss and decide on pending issues in the field of actuary, and share them via forums and seminars.
Seoul Tourism Organization (STO) and the Institute of Actuaries of Korea have been working together to host the IAA 2021 meeting in Seoul. Letter of intent proposals, sponsoring site inspections are some of the efforts that helped turn the vote in Seoul’s favour.
The size of the insurance industry in South Korea is one of the biggest in the world (seventh in terms of insurance premium), however, the actuary field of South Korea is not as well-known. Given this, the upcoming IAA meeting in Seoul will be an opportunity to raise the global reputation of South Korea in the insurance industry.
Kim Eun Mi, STO’s director of MICE marketing team, said that he is pleased with the win in the middle of the pandemic, as this also sends a hopeful message to the local MICE industry during a time of many cancellations or postponements.
According to the International Meetings Statistics Report released by Union of International Associations last September, Seoul hosted 609 international conferences in total last year, ranking third in a survey of global cities where most international conferences have been held. This is a 39 per cent increase from the previous year.