SWOT ANALYSIS
As previously stated, the objective of this paper is to provide an overview of Korea’s convention industry based on a careful examination of the internal and external market situations. In order to meet the objective, this study utilized the SWOT (strengths, weakness, opportunities, threats) analysis. The SWOT analysis is a method to identify the extent to which the current strategy of the tourism sectors and its more specific strengths and weaknesses are relevant to, and capable of, dealing with the changes taking place in the business environment (Johnson & Scholes, 1997). Once the SWOT analysis has been completed, organizations or destinations are likely to have a clearer picture of what their capabilities and vulnerable areas are, where they stand in the market compared with their competitors, and what potential trends and opportunities may impact on them. Marketing strategies can be more accurately formulated based on this analysis (Mouthinho, 2000). A SWOT analysis of Korea as a convention destination is presented in Figure 1.