Nightscape of Seoul (123rf)
Nightscape of Seoul (123rf)

Seoul ranked 10th out of 135 cities in the latest Global Financial Centres Index report, released Thursday afternoon, overtaking Beijing, Geneva, Paris and Tokyo.

The index has been published biannually in March and September since 2007 by London-based think tank Z/Yen Group to evaluate the international financial competitiveness of cities globally. The GFCI is evaluated based on five categories — human capital, business environment, financial sector development, infrastructure and reputation — as well as an online survey conducted on industry figures from around the world.

Seoul was placed in the top 15 in four areas of competitiveness, ranking ninth in business environment, 11th in human capital and financial sector development, and fifth in reputation. The city did not rank within the top 15 in the infrastructure category.

According to the Seoul Metropolitan Government, the city remained in the No. 10 slot on the GFCI chart for three consecutive years since 2023.

While New York maintained its top spot, London and Hong Kong were placed at the No. 2 and No. 3 slots, respectively.

Along with the GFCI rankings, Seoul also ranked 8th in terms of FinTech offerings, up two places from the 2024 report, achieving its highest ranking.

The city has pursued several key fintech initiatives from April to September. These include an agreement with Intuitive Surgical, the global leader in robotic surgery, for an additional investment of 15 billion won ($10.7 million) and the hiring of 100 new employees, as well as a collaboration with a global data cloud company, Snowflake, for overseas expansion, talent development, and more.

“We will strive to combine financial technology with advanced industries to develop Seoul into Asia’s leading fintech hub and a strategic center for innovation-driven industries,” said a city government official in a press release.


sj_lee@heraldcorp.com