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Economy of Seoul

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105: 91: 2842: 782: 2429: 1481: 119: 2418: 1467: 24: 525:, ranking fifth in global city GDP and second in Asian city GDP. The service sector accounts for the largest portion of the city's labor force. As the center of the country's finance, Seoul is concentrated in Yeouido, where the headquarters of major stock exchanges and banks are located. The city holds many annual trade fairs. 881:. The 2nd World trade trade center is being planned at Seoul Olympic stadium complex as MICE HUB by Seoul city. Ex-Kepco head office building was purchased by Hyundai motor group with 9billion USD to build 115-storey Hyundai GBC & hotel complex until 2021. Now ex-kepco 25-storey building is under demolition. 702:
released in 2024, Seoul ranked 10th. The city ranked 13th in business environment and financial sector development, seventh in human capital, 10th in infrastructure and 12th in reputation. In 2023, the city announced plans to invest $ 44.7 million over six years to create a dedicated area to attract
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broadband penetration and highest global average internet speeds of 26.1 Mbit/s. Since 2015, Seoul has provided free Wi-Fi access in outdoor spaces through a 47.7 billion won ($ 44 million) project with Internet access at 10,430 parks, streets and other public places. Internet speeds
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with headquarters of major companies, foreign financial institutions, largest news agencies and law firms. Other two business districts are developed in 1970s and have different characteristic; while Gangnam is well known for tech, luxury and private education industries, Yeouido is famous for
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Korea World Trade Center Complex, which comprises COEX mall, congress center, 3 Inter-continental hotels, Business tower (Asem tower), Residence hotel, Casino and City airport terminal was established in 1988 in time for the
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and assembly-type of industries; however, food and beverage production, as well as printing and publishing remained among the core industries. Major manufacturers are headquartered in the city, including
749:. However, its composition was heavily concentrated to native firms on stock brokerage and asset management. Other sectors, such as banking, insurance and credit cards, were found mostly concentrated in 919:
in some apartment buildings reach up to 52.5 Gbit/s with assistance from Nokia, and though the average standard consists of 100 Mbit/s services, providers nationwide are rapidly rolling out 1
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is the largest electronics market in Asia. Electronics markets are Gangbyeon station metro line 2 Techno mart, ENTER6 MALL & Shindorim station Technomart mall complex.
631: 726:, its distinct fame as financial district of the whole nation started later in 1990s, when South Korea started deregulating stock market to attract foreign investments. 2904: 2341: 2168: 2985: 545: 2285: 3349: 676:
office market is also sustained by diverse industries, yet most of its components come from tech and luxury retails. The most homogeneous composition is found in
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companies. Rather, diverse industries creates demand for office in central business districts in Seoul. This characteristic is most clearly evident in
2553: 3241: 45: 32: 3366: 1131: 2229: 532:, Seoul is the city that hosts the most international conferences in Asia. Seoul's global financial competitiveness ranked 10th out of 130 cities. 2076: 1778: 3297: 3185: 2486: 830:
had catered mainly to foreign tourists and American soldiers based in the city, Koreans now comprise the majority of visitors to the area. The
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is the cultural art market of Seoul, where traditional and modern Korean artworks, such as paintings, sculptures and calligraphy are sold.
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As significant portion of South Korean economy is propelled by manufacturing and tech firms, office market in Seoul is not driven by
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Yet it is notifiable that major functions as financial district are still distributed among big three business districts, as
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Seoul is among the world leaders in Internet connectivity, being the capital of South Korea, which has the world's highest
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has its headquarters divided by departments: Some of them are based in Seoul, while the other is based in the
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and Janganpyeong Antique Market also offer antique products. Some shops for local designers have opened in
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Seoul has been described as the world's "most wired city", ranked first in technology readiness by
781: 742: 680:, where most of financial institutions, especially most of native stock brokerage firms reside in. 494: 2822: 2797: 2748: 2738: 2698: 1486: 1325: 1137: 514: 134: 1752: 1978: 2975: 2944: 2782: 2764: 2743: 2723: 2708: 2679: 2649: 2632: 2015: 1861: 793: 770: 2012:
To achieve development of financial industry, Seoul needs to look for various policy measures
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The traditional, labor-intensive manufacturing industries have been continuously replaced by
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with mid- to high-end stores, fashion boutiques and international brand outlets. The nearby
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connections at the equivalent of US$ 20 per month. In addition, the city is served by the
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is one of the most affluent areas in Seoul and is noted for the fashionable and upscale
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is one of Seoul's largest shopping malls, and contains the world's largest permanent
568: 1593:[In 2021, Seoul's regional GDP per capita pass over 40,000 USD… 3.4% YoY↑]. 1472: 1383: 1308: 1275: 1233: 1183: 931: 851: 665: 595: 522: 506: 2194: 1590: 1681: 1561: 3190: 2462: 1595: 1566: 1433: 1408: 1283: 785: 711: 653: 555: 942:
inside subway cars. 5G will be introduced commercially in March 2019 in Seoul.
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had its distinct competency in fintech start-ups and real estate firms.
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Top Eleven Fortune Global 500 companies headquartered in Seoul (2023)
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Seoul's nowadays competency in financial industry is mainly found in
1890: 1562:"Regional GDP climbs 3.9 pct in 2022 on rising manufacturing sector" 3163: 2589: 2508: 780: 591: 580: 486: 138: 1528:"Seoul's GRDP per capita surpasses $ 40,000 in 2021, up 3.4% YoY" 1948:"Neon shines brightly during the bustle on Yeouido stock street" 1928:"Seoul rises one spot to 10th in Global Financial Centres Index" 584: 2886: 2562: 1779:"It's official: Jinro soju is the world's best-selling liquor" 1225: 900: 17: 2252:"Yongsan Electronics Market, Asia's largest IT shopping mall" 745:, about 40% of entire financial institutions were settled in 1145: 792:
The largest wholesale and retail market in South Korea, the
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got started in 1979 when the national government relocated
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is the most sold alcoholic drink in the world, beating out
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companies based in South Korea, headquartered in Seoul.
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akamai's [state of the internet] Q4 2016 report
41: 1835:"Top 3 Major Business Districts (CBD) in Seoul, Korea" 812:, is the oldest continually running market in Seoul. 1717: 1715: 3342: 3321: 3275: 3199: 3151: 3120: 3072: 2999: 2963: 2920: 2849: 2762: 2677: 2668: 1979:"Korea Exchange witnesses economy's ebbs and flows" 273: 262: 251: 234: 229: 216: 204: 191: 181: 171: 158: 150: 145: 907:report. Seoul has a very technologically advanced 632:Category:Central business districts in South Korea 788:is one of the most popular destinations in Seoul. 1452:. So this company is not included in the table. 2986:Korea Minting and Security Printing Corporation 2308:"50 reasons why Seoul is world's greatest city" 2193:. Seoul Matropolitan Government. Archived from 546:Category:Manufacturing companies based in Seoul 579:. Notable food and beverage companies include 2898: 2574: 2554:'The Economy of Seoul' by the Seoul Institute 2214: 2212: 1753:"The primacy of Seoul and the capital region" 467: 8: 2284:. Guinnessworldrecords.com. 18 August 2009. 950:As of 2023, Seoul's GDP is $ 779.3 billion. 306: 294:All values, unless otherwise stated, are in 78: 2367:"KOREA: Future is now for Korean info-tech" 2905: 2891: 2883: 2674: 2581: 2567: 2559: 661:securities exchange and asset management. 474: 460: 305: 2389:"Tech capitals of the world – Technology" 489:, the capital of South Korea, is home to 64:Learn how and when to remove this message 2014:] (in Korean). The Seoul Institute. 1841:. Pearson & Partners. 25 August 2020 1132:List of largest companies of South Korea 957: 800:is a shopping and entertainment area in 1862:"Beginners guide to Seoul office lease" 1591:"2021년 서울 1인당 GRDP 4만달러 돌파… 전년대비 3.4%↑" 1516: 434: 411: 370: 349: 313: 3298:Ministry of Trade, Industry and Energy 3186:Korea Financial Investment Association 2399:from the original on 12 September 2009 2395:. Melbourne, Australia. 18 June 2007. 2282:"Largest Permanent 35mm Cinema Screen" 2004:주, 재욱; 김, 진하; 윤, 종진 (31 August 2022). 1555: 1553: 1522: 1520: 1126:Top publicly traded companies in Seoul 700:Global Financial Centerss Index report 77: 3334:Korea International Trade Association 2079:from the original on 15 February 2014 1733:from the original on 22 February 2014 1620: 1618: 1616: 1614: 891:Science and technology in South Korea 848:Noryangjin Fisheries Wholesale Market 7: 2314:from the original on 22 October 2014 2288:from the original on 16 January 2013 2141:from the original on 16 January 2014 1759:from the original on 4 November 2014 1676: 1674: 1655: 1653: 1651: 714:of South Korea. Although history of 3181:Korea Deposit Insurance Corporation 1811:. The Economist. 24 November 2012. 530:Union of International Associations 1661:"Richest Cities In The World 2023" 741:is in the last. In 2022 survey of 225:26.61 million (nominal; 2022) 14: 2232:from the original on 4 March 2016 1977:Park, Anna J. (2 November 2020). 1560:Oh, Seok-min (22 December 2023). 602:. It also hosts food giants like 167:486 trillion (nominal; 2021) 3288:Ministry of Employment and Labor 2861:(Central Business District, CBD) 2840: 2435:from the original on 13 May 2018 2347:from the original on 20 May 2014 1954:. 5 January 2010. Archived from 1815:from the original on 1 July 2017 1479: 1465: 117: 103: 89: 22: 3329:Federation of Korean Industries 3283:Ministry of Economy and Finance 2955:South Korea–Japan trade dispute 2220:"Itaewon: Going Gangnam Style?" 1599:(in Korean). Seoul, South Korea 269:26.1 trillion (operating; 2019) 258:30.6 trillion (operating; 2019) 2930:Five-Year Plans of South Korea 2258:. 1 March 2011. Archived from 2007:서울시, 금융산업 발전 위해 다양한 정책수단 모색 필요 1785:. 12 June 2012. Archived from 247:4.4 trillion (operating; 2019) 1: 3313:Financial Supervisory Service 3308:Financial Services Commission 3293:Ministry of SMEs and Startups 2935:Heavy-Chemical Industry Drive 2459:Seoul Metropolitan Government 2045:. Visit Seoul. Archived from 1755:. United Nations University. 1536:Seoul Metropolitan Government 594:; top selling beer producers 332:Heavy-Chemical Industry Drive 1505:Manufacturing in South Korea 846:. Wholesale markets include 542:Manufacturing in South Korea 2950:1997 Asian financial crisis 2161:"Hwanghak-dong Flea Market" 1889:Ryu, Jongpil (4 May 2018). 342:1997 Asian financial crisis 200:43,404 (nominal; 2021) 3440: 3143:South–North Pipeline Korea 2165:Korea Tourism Organization 2135:Korea Tourism Organization 2073:Korea Tourism Organization 1895:Cornell Real Estate Review 1860:Lee, Sue (18 March 2011). 1589:김, 기훈 (21 December 2023). 1129: 888: 859:Yongsan Electronics Market 774: 768: 710:, which is often named as 687: 638:central business districts 629: 539: 3394: 2838: 2596: 1809:"Fiery food, boring beer" 1443: 820:Hwanghak-dong Flea Market 614:, Orion, Maeil Holdings, 420:Regions by GDP per capita 291: 83: 2940:Miracle on the Han River 2503: 2484:Wifi in All Public Areas 2333:PricewaterhouseCoopers. 2099: 777:Retailing in South Korea 598:(merged with Jinro) and 337:Miracle on the Han River 36:may need to be rewritten 2873:Business District (YBD) 2867:Business District (GBD) 2335:"Cities of Opportunity" 1727:Encyclopædia Britannica 1630:disclosure.spglobal.com 796:, is located in Seoul. 604:Seoul Dairy Cooperative 133:Outlook of three major 3424:Economy of South Korea 3400:Economy of North Korea 3374:International rankings 3054:Science and technology 2914:Economy of South Korea 1500:Economy of South Korea 1426:Samsung Life Insurance 1136:In 2023, 11 out of 18 789: 616:Namyang Dairy Products 552:information technology 443:Science and technology 308:Economy of South Korea 3303:Fair Trade Commission 3200:Free Trade Agreements 1665:New Trader University 1634:Standard & Poor's 1363:Yeongdeungpo District 1338:Yeongdeungpo District 1263:Yeongdeungpo District 1176:Hyundai Motor Company 1120:List of cities by GDP 905:Cities of Opportunity 895:South Korean robotics 784: 688:Further information: 491:giant business groups 3138:Trans-Korea Pipeline 2489:17 June 2011 at the 2377:on 16 December 2008. 2228:. 14 February 2013. 1952:Korea JoongAng Daily 1570:. Seoul, South Korea 720:Korea Stock Exchange 703:foreign investment. 218:Average gross salary 3276:Government agencies 2511:on 20 December 2017 2426:Akamai Technologies 2262:on 21 February 2014 2171:on 22 February 2014 2111:on 14 February 2016 2049:on 22 February 2014 2043:"Dongdaemun Market" 1789:on 21 February 2014 1702:"Seoul at a Glance" 1532:english.seoul.go.kr 1305:Energy and Chemical 1148: 1122:for more figures.) 964:Nominal GRDP (₩TN) 869:cinema screen, the 743:the Seoul Institute 310: 211:3rd (nominal; 2021) 206:GDP per capita rank 176:2nd (nominal; 2022) 80: 3105:Youth unemployment 3034:Financial services 2851:Business districts 1682:"Economy of Seoul" 1538:. 27 December 2023 1487:South Korea portal 1326:KB Financial Group 1146: 808:, named after the 790: 399:Financial services 135:business districts 3406: 3405: 3367:Largest companies 3112:Work-life balance 2945:Four Asian Tigers 2880: 2879: 2836: 2835: 2197:on 8 October 2010 2191:"Antique Markets" 1456: 1455: 1116: 1115: 934:, which provides 794:Dongdaemun Market 771:Shopping in Seoul 698:According to the 528:According to the 484: 483: 304: 303: 74: 73: 66: 46:lead layout guide 3431: 3419:Economy of Seoul 2976:Hwan (1953–1962) 2907: 2900: 2893: 2884: 2844: 2675: 2583: 2576: 2569: 2560: 2541: 2540: 2527: 2521: 2520: 2518: 2516: 2507:. Archived from 2499: 2493: 2481: 2475: 2474: 2472: 2470: 2461:. Archived from 2451: 2445: 2444: 2442: 2440: 2434: 2423: 2415: 2409: 2408: 2406: 2404: 2385: 2379: 2378: 2363: 2357: 2356: 2354: 2352: 2346: 2339: 2330: 2324: 2323: 2321: 2319: 2310:. 12 July 2017. 2304: 2298: 2297: 2295: 2293: 2278: 2272: 2271: 2269: 2267: 2248: 2242: 2241: 2239: 2237: 2216: 2207: 2206: 2204: 2202: 2187: 2181: 2180: 2178: 2176: 2167:. Archived from 2157: 2151: 2150: 2148: 2146: 2127: 2121: 2120: 2118: 2116: 2107:. Archived from 2095: 2089: 2088: 2086: 2084: 2065: 2059: 2058: 2056: 2054: 2039: 2033: 2032: 2030: 2028: 2001: 1995: 1994: 1992: 1990: 1974: 1968: 1967: 1965: 1963: 1944: 1938: 1937: 1936:. 21 March 2024. 1933:The Korea Herald 1924: 1918: 1917: 1915: 1913: 1886: 1880: 1879: 1877: 1875: 1857: 1851: 1850: 1848: 1846: 1839:pearsonkorea.com 1831: 1825: 1824: 1822: 1820: 1805: 1799: 1798: 1796: 1794: 1775: 1769: 1768: 1766: 1764: 1749: 1743: 1742: 1740: 1738: 1723:"Seoul: Economy" 1719: 1710: 1709: 1698: 1692: 1691: 1690:. 20 March 2024. 1678: 1669: 1668: 1657: 1646: 1645: 1643: 1641: 1636:. 27 August 2020 1622: 1609: 1608: 1606: 1604: 1586: 1580: 1579: 1577: 1575: 1557: 1548: 1547: 1545: 1543: 1524: 1489: 1484: 1483: 1482: 1475: 1470: 1469: 1468: 1405:Food, Media, etc 1313:Gangnam District 1205:Electronics, etc 1149: 958: 832:Gangnam district 806:Namdaemun Market 636:Seoul has three 600:Oriental Brewery 476: 469: 462: 350:Business culture 311: 278: 239: 187:3.4% (2021) 154:9,501,528 (2021) 121: 107: 93: 81: 79:Economy of Seoul 69: 62: 58: 55: 49: 42:improve the lead 26: 25: 18: 3439: 3438: 3434: 3433: 3432: 3430: 3429: 3428: 3409: 3408: 3407: 3402: 3390: 3338: 3317: 3271: 3195: 3147: 3116: 3068: 3012:Rice production 2995: 2971:Won (1945–1953) 2959: 2916: 2911: 2881: 2876: 2845: 2832: 2758: 2664: 2592: 2587: 2550: 2545: 2544: 2529: 2528: 2524: 2514: 2512: 2505: 2501: 2500: 2496: 2491:Wayback Machine 2482: 2478: 2468: 2466: 2465:on 10 July 2012 2453: 2452: 2448: 2438: 2436: 2432: 2421: 2417: 2416: 2412: 2402: 2400: 2387: 2386: 2382: 2365: 2364: 2360: 2350: 2348: 2344: 2337: 2332: 2331: 2327: 2317: 2315: 2306: 2305: 2301: 2291: 2289: 2280: 2279: 2275: 2265: 2263: 2250: 2249: 2245: 2235: 2233: 2225:The Korea Times 2218: 2217: 2210: 2200: 2198: 2189: 2188: 2184: 2174: 2172: 2159: 2158: 2154: 2144: 2142: 2129: 2128: 2124: 2114: 2112: 2105:Visit Seoul Net 2101: 2097: 2096: 2092: 2082: 2080: 2067: 2066: 2062: 2052: 2050: 2041: 2040: 2036: 2026: 2024: 2022: 2003: 2002: 1998: 1988: 1986: 1983:The Korea Times 1976: 1975: 1971: 1961: 1959: 1946: 1945: 1941: 1926: 1925: 1921: 1911: 1909: 1888: 1887: 1883: 1873: 1871: 1867:The Korea Times 1859: 1858: 1854: 1844: 1842: 1833: 1832: 1828: 1818: 1816: 1807: 1806: 1802: 1792: 1790: 1777: 1776: 1772: 1762: 1760: 1751: 1750: 1746: 1736: 1734: 1721: 1720: 1713: 1700: 1699: 1695: 1680: 1679: 1672: 1659: 1658: 1649: 1639: 1637: 1624: 1623: 1612: 1602: 1600: 1588: 1587: 1583: 1573: 1571: 1559: 1558: 1551: 1541: 1539: 1526: 1525: 1518: 1513: 1485: 1480: 1478: 1471: 1466: 1464: 1461: 1446:Samsung C&T 1438:Seocho District 1238:Seocho District 1213:Jongno District 1188:Seocho District 1134: 1128: 956: 948: 928:high-speed rail 897: 887: 779: 773: 767: 696: 686: 634: 628: 548: 538: 480: 322:Five-Year Plans 300: 280: 276: 241: 237: 230:Public finances 219: 207: 194: 184: 141: 131: 130: 129: 128: 127: 122: 114: 113: 108: 100: 99: 94: 70: 59: 53: 50: 39: 27: 23: 12: 11: 5: 3437: 3435: 3427: 3426: 3421: 3411: 3410: 3404: 3403: 3395: 3392: 3391: 3389: 3388: 3387: 3386: 3379:Regions by GDP 3376: 3371: 3370: 3369: 3359: 3358: 3357: 3346: 3344: 3343:Related topics 3340: 3339: 3337: 3336: 3331: 3325: 3323: 3319: 3318: 3316: 3315: 3310: 3305: 3300: 3295: 3290: 3285: 3279: 3277: 3273: 3272: 3270: 3269: 3264: 3259: 3254: 3249: 3244: 3239: 3234: 3232:European Union 3229: 3224: 3219: 3214: 3209: 3203: 3201: 3197: 3196: 3194: 3193: 3188: 3183: 3178: 3173: 3172: 3171: 3166: 3159:Korea Exchange 3155: 3153: 3149: 3148: 3146: 3145: 3140: 3135: 3130: 3124: 3122: 3118: 3117: 3115: 3114: 3109: 3108: 3107: 3097: 3092: 3087: 3085:Labor movement 3082: 3076: 3074: 3070: 3069: 3067: 3066: 3061: 3056: 3051: 3046: 3041: 3036: 3031: 3026: 3021: 3016: 3015: 3014: 3003: 3001: 2997: 2996: 2994: 2993: 2988: 2983: 2978: 2973: 2967: 2965: 2961: 2960: 2958: 2957: 2952: 2947: 2942: 2937: 2932: 2926: 2924: 2918: 2917: 2912: 2910: 2909: 2902: 2895: 2887: 2878: 2877: 2875: 2874: 2868: 2862: 2859:Downtown Seoul 2855: 2853: 2847: 2846: 2839: 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Downtown Seoul

Gangnam

Yeouido
business districts
Seoul
GDP

2nd (nominal; 2022)
US$
3rd (nominal; 2021)

Budget balance



Credit rating
S&P
US dollars
Economy of South Korea
Five-Year Plans
Saemaul Undong
Heavy-Chemical Industry Drive
Miracle on the Han River

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