A group of foreign business leaders in Seoul said increasing global competitiveness of the capital is vital for its sustainable development at a meeting with Seoul Mayor Park Won-soon on Monday.

“Seoul needs to set policies and plans that will elevate its global competitiveness for sustainable growth,” said the new board members of the Seoul International Business Advisory Council at the first consultative meeting with Park.

The meeting was closed to public.

Park also shared his vision for city development, asking for interest and attention from SIBAC members to help them to bring out development and change to create a “healthy city.”

He also vowed to provide support for the 11th SIBAC conference scheduled for Oct. 25-26 in the capital.

“The conference will be a chance to evaluate the current economic policies and set strategies that will address economic polarization and balance growth and wealth equality in our society,” Kwon Hyunk-so, director of economic promotion division said.

The new SIBAC board members include the 4th chairman Dominic Barton, global managing director at management consultancy McKinsey & Company; vice chairman Chee Onn Lim, senior international advisor of Singbridge Pte Ltd.; and three advisors Richard Smith, president of Pinkerton Foundation, Ronald Anderson, senior advisor of Chartis International and Kim Ki-hwan, chair of the Seoul Financial Forum.

By Lee Woo-young (wylee@heraldcorp.com)