Seoul ranked seventh among 139 cities in the latest Global Financial Centers Index, rising one notch from the previous report, the Seoul city government announced Wednesday.
The capital has ranked among the world’s top 10 for the fourth consecutive year.
Published jointly by London-based consultancy Z/Yen Group and the China Development Institute, the Global Financial Centers Index compares the competitiveness of major financial hubs worldwide.
The index is published twice a year, in March and September, and evaluates cities in five areas — reputation, infrastructure, financial-sector development, business environment and human capital.
“Seoul is no longer a city that follows leading cities, but one that confidently competes for a place among the world’s top tier,” Seoul Mayor Oh Se-hoon said.
“As cities around the world compete not only for companies and capital but also for talent and technology, we will further strengthen Seoul’s financial competitiveness by fostering its digital finance ecosystem and creating an environment that attracts global companies and talent.”
Seoul also ranked seventh in the financial technology category, its highest position to date, according to the Seoul Metropolitan Government.
The city first entered the fintech top 10 in 2024, attributing the rise partly to its support programs for fintech startups.
The city’s two fintech labs have supported 530 companies that have generated a combined 1.11 trillion won ($813 million) in sales, attracted 574.6 billion won in investment and created 5,592 jobs, according to the city.
New York and London retained the top two positions in the latest ranking, followed by Hong Kong, Singapore and Shanghai.
Seoul has climbed 46 places since ranking 53rd in 2009. The city has continued on a steady ascent, reaching 16th in 2021 and 12th in 2022.
At The Korea Herald’s Sept. 8 HIT Forum, held under the theme “Korea Premium: Connecting Korean Opportunities With Global Capital,” Oh pledged to attract more international financial firms, cultivate financial talent and create more opportunities for innovative companies to connect with investors.
yunapark@heraldcorp.com
