Under WTO, opening the Korean farmers market to the world is being accelerated with progress of Korea-USA and EU FTA. With increasing income and extended average lives, people are more interested in well-being and prefer fresh and safe foods more and more. For responding to such a trend, the Cheonan City Council hosted the 2009 Cheonan Well-being Food Expo, and has a plan for hosting the Cheonan 2013 International Well-being Food Expo in order to continue and diffuse such an effect of the Expo and to culture and develop the advanced food industry in Korea.
The purpose of this study is to examine feasibility of the 'Master Plan of Cheonan 2013 International Well-being Food Expo' and to analyze the following economic effect.
Key details of this study include current state and prospect for the Korean and international food industry, analysis of conditions of Cheonan, examination of the master plan for the Expo, estimate of visitors, and examination of feasibility. To this end, I used existing data and statistics, and estimated the demand by means of survey for people's traveling and questionnaires for ordinary Koreans. For examining financial feasibility for hosting the Expo, BCR (Benefit-Cost Ratio) and NPV (Net Present Value) was applied. For estimating the economic effect following the Expo, the effect on all over the country and the Choongnam Province was analyzed, using the MRIO (Model of Regional Input-Output).
While the current trend is that various additives and chemicals are applied in food processing, food safety is thus threatened by the harmful substances applied in food processing and consumers are more and more interested in food safety. Therefore, there is a highly increasing demand for environment-friendly and organic farming products, which are typical well-being foods. Production and transactions thereof are phenomenally increasing, but most of European countries and America cannot fully meet the demand and depend highly on imported materials. For developing the Korean food industry and exporting more products in the world food market as described above, it is needed to develop a plan for publicizing Korean well-being foods, and the International Well-being Food Expo can thus be a turning point.
Cheonan is shown appropriate for hosting the Cheonan 2013 International Well-being Food Expo. Cheonan is a center of food logistics in the central region of Korea as a traffic node of railways, roads, airways and waterways, constructing and expanding infrastructures with the mid- and long-term development plan for the food industry to grow a food industry cluster. The Cheonan City Council has an experience and know-how for having hosted the successful 2009 Cheonan Well-being Food Expo and is trying to develop the place for International Well-being Food Expo (in Cheonan Samgeori park). Cheonan was approved as a healthy city from WHO in 2009 to prove a place appropriate for the well-being image in Korea and other countries and it was shown that very positive citizens have expectation and agreed for the Expo.
The number of visitors for the Cheonan 2013 International Well-being Food Expo was estimated to be 800,000 in the Master Plan, 760,000 in the result of surveying people's traveling and 650,000 in the result of questionnaires for ordinary Koreans for people older than 19.
In this study, it is decided that 800,000 in the Master Plan would be feasible, considering the number of visitors in other similar expo events including the 2009 Cheonan International Well-being Food Expo. It was estimated that the number of visitors from other countries would be approximately 50,000.
In analysis of each scenario for the economic feasibility, both of the discount ratio of 4.31% (regional development bond) and 5.5% (pre-feasibility guideline) was 1.11 for BCR. NPV was 1.7 billion and 90 million won to 1.8 billion and 30 million won which shows economic efficiency. In the analysis result with respect to sensitivity of income from events and the discount ratio (on the basis of 4.31%), BCR was 1.02 to 1.16 which shows economic efficiency.
It is estimated that nationwide economic effect would be 214.6 billion won, the value added would be 84.3 billion won and employment would be created for 3,151 persons, led by 9.2 billion won of investment to constructing infrastructures and facilities, 8.8 billion won of expenditure on exhibitions and event operation during the Expo period, and 86.3 billion won of visitors' expenditure.
Choongnam (Cheonan) where the Expo is held will have a significant effect on the industries closely associated with tourism-related expenditure, e.g., wholesale and retail restaurants, accommodations, transportation and storage, constructions, real estate, business services, etc., estimated with gross product of 141.1 billion won, value added of 54.4 billion won and employment of 2,341 persons. On the basis of gross product, the sector of wholesale and retail restaurants occupies 40.2% showing the greatest effect, the transportation and storage 15.5%, the others 22.7%, and social and other services 9.0% in the entire industries.
Comprehensively, the Cheonan 2013 International Well-being Food Expo was analyzed profitable in general. For successfully hosting and holding Cheonan 2013 International Well-being Food Expo, it is necessary to prepare a specific promotion strategy, to establish and promote positive marketing plans, e.g., for attracting Korean and overseas visitors and public relations, etc.

Description
Event Cheonan 2013 International Well-being Food EXPO
Subject Taste for life and healthy living (draft)
Period September 27 to October 20, 2013 (24 days)
Venue Cheonan Samgeori Park
Site 359,700㎡ (events: 208,060㎡, parking: 151,640㎡)
Estimates Approx, 800,000 visitors / 15 countries and 150 organizations and enterprises
Host The Cheonan City Council
Supervision The Cheonan Organizing Committee for Well-being Food Expo
Contents Exhibitions, performance, seminars, experience events, entertaining events, formal events, etc.
Budget 18 billion won



Researchers: Kyeong-Hwan Choi, Jae Bong Chang, Byeong-seok Yoon, Sun-Jin Ahn.
Research period: 2010. 11. - 2011. 2.
E-mail address: kyeong@krei.re.kr, jbchang@krei.re.kr, dd329@krei.re.kr, sjahn@krei.re.kr.