South Korea's statistics agency said Tuesday the country has been selected as the host of an international statistics event scheduled for 2027, which will bring together experts and government officials from around the world to share knowledge in the field of statistics.

South Korea will host the World Statistics Congress of the International Statistical Institute in 2027 in the southeastern port city of Busan, marking the second time for the country to host the biennial event, following its previous hosting in 2001, according to Statistics Korea.

"The event is considered an Olympics of statistics officials, in which experts from government, international bodies and private firms gather to discuss theories and developments in the field," the agency said in a statement.

The agency added the decision came on the back of South Korea's efforts to share its knowledge in the field of statistics with developing nations through official development assistance programs, as well as cooperation with the United Nations and other international bodies.

"The congress will expand and promote the application of innovative statistics technologies in the artificial intelligence and big-data sectors," it added. "It will also give opportunities for South Korean experts to share their achievements with the globe." (Yonhap)