Jeju has won its bid to host the International Union for Conservation of Nature's World Conservation Congress (IUCN WCC) in 2012, the Environment Ministry and Jeju announced Thursday.

Held every four years, the IUCN WCC is the world's largest environmental event and is also known as the environmental Olympics.

The IUCN chose Jeju during a council meeting at its headquarters in Gland, Switzerland, on Thursday. Hosting the event is expected to elevate Korea to among the world leaders in environmental protection.

The ministry forecasts the WCC will generate economic benefits worth more than W100 billion (US$1=W1,155), four times the amount brought in by the Ramsar Convention on Wetlands in Changwon, South Gyeongsang Province, last year.

The benefits could be greater if the event can be linked to the 2012 Yeosu World Expo for synergy effects, the ministry added.

The 10-day WCC is expected to bring some 10,000 people from 160 countries to Jeju for around 900 conferences, workshops and exhibitions.