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https://www.koreatimes.co.kr/www/biz/2024/03/488_371208.html?na
By Lee Yeon-wooSeoul ranked 10th among 133 cities in the Global Financial Centres Index (GFCI), the Seoul Metropolitan Government said Friday. The index that evaluates the financial competitiveness of the world's major cities placed Seoul before Paris, Beijing and Tokyo.
Announced by Z/Yen Partners in London in partnership with China Development Institute, the GFCI is updated and published every March and September. It assesses the future competitiveness and rankings of global financial centers.
New York secured first place in the latest edition, followed by London, Singapore, Hong Kong and San Francisco. Seoul climbed one spot to 10th compared to last September.
The Seoul Metropolitan Government credits this advancement to the city's sustained initiatives to revitalize the financial hub in Yeouido. In pursuit of establishing Yeouido as a premier global financial center, the city is undertaking a variety of measures. These include nurturing the fintech sector and enhancing the living environment for foreign nationals.
Seoul ranked in the top 15 for all five evaluation criteria, securing 13th position in business environment, seventh in human capital, 10th in infrastructure, 13th in financial sector development and 12th in reputation.
In addition to these general ratings, Seoul has also entered the top 10 fintech centers alongside Los Angeles, Singapore, Shanghai and Chicago, replacing Beijing, which has fallen to the 11th position.
"The improvement in the GFCI rankings is a clear reflection of Seoul's appeal and competitiveness as a global financial city," Lee Hae-woo, head of the Seoul Metropolitan Government's economic policy office, said. "Seoul is committed to enhancing Seoul's stature as a global financial hub, with the goal of attracting more foreign companies, capital and talents."
