Seoul ranks 10th among 133 cities covered in the biannual Global Financial Centres Index of the U.K. Shown above is the Yeouido neighborhood of the capital’s Yeongdeungpo-gu District. (Seoul Metropolitan Government’s official Facebook page)
By Israa Mohamed
The Global Financial Centres Index (GFCI), which gauges the financial competitiveness of major world cities, has ranked Seoul 10th on its list, the Seoul Metropolitan Government announced on March 21.
The city cited the GFCI 35 list released by Z/Yen, a U.K.-based global consulting company, that placed Seoul 10th among 133 cities worldwide as a global financial center.
Launched in 2007, the GFCI every March and September ranks around 130 global cities in five categories: business environment, evaluation, financial sector development and reputation.
The latest list put Seoul above Paris (14th), Beijing, China, (15th) and Tokyo, Japan, (19th). Topping the index was New York, followed in order by London, Singapore and Hong Kong.
Seoul also ranked among the top 15 in all five categories: business environment (13th), evaluation (seventh), financial sector development (13th) and reputation (12th).
In fintech, or changes in financial services and the sector based on cutting-edge information and communications technology such as mobile, big data and social media, the capital finished 10th, up a notch from September last year and proving its high competitiveness as a digital financial hub.
Seoul also topped for the second straight year the category potential for future growth, attesting to its outlook for continuous growth and development.
“The latest rise in our GFCI rank sufficiently reflects Seoul’s attractiveness and competitiveness as a global financial city,” Deputy Seoul Mayor for Economic Policy Lee Hae Woo said. “Seoul will keep reinforcing its status as a global financial hub that can attract more foreign companies, capital and human resources.”
This is the 2024 rankings of the biannual Global Financial Centres Index. (Screen capture from Z/yen’s official website)
ess8@korea.kr
