President Yoon Suk Yeol took responsibility for the failure to win the 2030 World Expo in Busan as he apologized to the citizens of Busan and the South Korean people for the disappointment.
In a surprise press briefing on Wednesday, Yoon acknowledged that predictions about the votes of member states of the Bureau International des Expositions after the joint campaign by the government and private sector had missed the mark.
Emphasizing that the "One Korea Team" had given their all, the president attributed the failed bid to insufficiencies on his part as the country’s leader.
Yoon said the Expo campaign was not only about pursuing development in Busan, but also about achieving balanced development between the nation's two largest cities for rapid growth.
Despite the loss, the president said the balanced development strategy will be pursued to continue to foster Busan as a base for maritime business, international finance, cutting-edge industries, and the digital sector, giving the country a chance to leap into the top ten global economies.
Yoon also vowed to continue to responsibly contribute to the international community as a global leader in accordance with the state policy direction and Expo pledge to return the favor that allowed South Korea to rise from the ashes of the Korean War through global aid.