Seoul City Successfully Enters Global 'Top 10' Financial Cities

Ranked 10th in Global Financial City Competitiveness Index
'Fintech Ranking' Rises... Proving Digital Finance Competitiveness
Top Rankings in All 5 Evaluation Categories... Strengthening Financial City Competitiveness

Seoul has ranked as the 10th largest financial city in the world. This is according to the 'Global Financial Centres Index (GFCI),' which measures the financial competitiveness of major cities worldwide, placing Seoul higher than competitors such as Paris (14th), Beijing (15th), and Tokyo (19th).

On the 21st, the city announced that according to GFCI, evaluated by the UK-based global consulting group Z/Yen since 2007, Seoul ranked 10th out of 133 cities worldwide. Z/Yen released the related report through an online webinar at 6 p.m. Korean time on the same day.

According to the 35th GFCI report, Seoul rose one spot from 11th place in the comprehensive GFCI ranking announced last September to 10th place. This achievement was attributed to the consistent implementation of policies to revitalize the Yeouido financial district.

Additionally, Seoul achieved encouraging results by ranking within the top 15 in all five major evaluation categories. Seoul’s rankings in the five categories are: business environment 13th, human capital 7th, infrastructure 10th, financial sector development 13th, and reputation 12th. Furthermore, Seoul’s 'Fintech ranking' within the GFCI also improved by one spot from last September, reaching 10th place, highlighting the competitiveness of Seoul as a digital finance city.

Lee Hae-woo, Director of Economic Policy at Seoul City, stated, "The rise in the Global Financial Centres Index ranking reflects Seoul’s growing appeal and competitiveness as a global financial city. Seoul will continue to strengthen its status as a global financial hub city where more overseas companies, capital, and talent can gather."