South Korea will hold the 22nd World Energy Congress (WEC) in the eastern city of Daegu in 2013.

By defeating its biggest rivals Denmark and South Africa in the final vote from member countries gathered in the Mexico City, Saturday, South Korea became the third country in Asia to hold the energy conference following India and Japan.

Since 1995, South Korea had eagerly been hoping to win the conference. At the final vote, 66 out of a total of 94 countries participated.

Led by Korea Electric Power Corp. President and CEO Kim Ssang-su, the nation dispatched delegation teams to several WEC-sponsored events including the Energy Leaders Summit in London, resulting in South Korea gaining support from China and Japan for Daegu.

Chaired by the World Energy Council (WEC) every three years, the international conference is attended by some 5,000 people from member countries.

Analysts say South Korea will expect “ripple effects” worth about one trillion won for the regional economy by holding the conference.

“The energy fair will allow South Korea to strengthen its energy diplomacy and to expand business opportunities with bigger foreign companies,” the 63-year-old Kim said.

In Asia, only India and Japan hosted the conference in 1983 and 1995, respectively, since the congress was launched in London in 1924. The council is a United Nations-accredited, non-governmental body that covers all types of energy sources including coal, oil, natural gas, nuclear and renewable energy.

In 2007, Rome held the conference amid high oil prices, while the Canadian city of Montreal is set to host the 2010 congress.

Source: Korea Times