Seoul ranked eighth globally in financial competitiveness, according to a recent report by UK-based consulting firm Z/Yen.

In its 39th edition of the Global Financial Centers Index, Z/Yen evaluated 137 cities worldwide. The South Korean capital placed eighth in human capital, sixth in business environment, eighth in financial sector development and ninth in reputation.

Seoul has remained in the top 10 for four consecutive years, climbing two spots from 10th place last year. The city ranked 53rd in 2009, rising to 16th in 2021 and 12th in 2022.

The Seoul Metropolitan Government attributed the improvement to expanded investment attraction efforts, a stronger fintech ecosystem and increased global recognition driven by the popularity of Korean culture.

New York and London ranked first and second, respectively, while Busan placed 23rd.


don@heraldcorp.com