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  • City of Optimized Business Environment

City of Optimized Business Environment

Well-developed Urban Infrastructure

  • World’s No.1 in ICT penetration rate for three consecutive years (2018-2020)
    • High-speed communication network (5G) and free public Wi-Fi penetration rate: 84.8%
  • Achieving convenience and transparency by implementing the world’s best e-government
    • No.1 in UN E-Government Survey 2020, E-Government Development Index, and E-Participation Index
    • Korea exported its E-Government system to 79 countries (324 cases, USD 450 million / as of December 2020)
  • Convenient and affordable public infrastructure : Transportation, communication, electricity, and water

Leading Global Brands

  • More than 70% of global brand companies with world-class technology, such as Samsung, LG, and Hyundai, are located in Seoul.
  • More than half of Fortune 500 global companies have entered into Korea: Apple, Microsoft, Boeing, Amazon, Royal Dutch Shell, ExxonMobil Facebook, Netflix, etc.
  • “Testbed Korea”
    • Korea has established itself as an important testbed for global companies as its population across all generations comprises robust consumer groups that are sensitive to anything new and fast as well as global trends.

Seoul that Invests in the Future

  • Providing strategic support by creating industrial clusters centered on Seoul’s core industries such as R&D (bio/medical/pharmaceutical), information and communication (IT/ICT), artificial intelligence (AI), and services (media/digital content)
  • Among Korea’s 32 unicorn companies, 27 of them are located in Seoul.
    • Seoul ranked No.10 in global startup ecosystem according to Startup Genome released in 2022.
    • Seoul’s startup ecosystem valued at USD 177 billion (global average of USD 28.6 billion)
  • Technological R&D and IPR support
    • Subsidizing USD 40 million in R&D annually by selecting 300 small and medium-sized enterprises (SMEs)
    • Providing consulting for the protection and registration of intellectual property for 4,000 SMEs annually