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The Seoul Metropolitan Government (SMG) will conduct a factual survey for deciding on SME-suitable business areas. “SME-suitable business areas” operate as a system to seek reasonable division of roles between large enterprises and SMEs by designating business areas in which SMEs can display their competitiveness. The term of designation is three years and it can...   Read more

The Seoul Metropolitan Government (SMG) and Seoul Tourism Organization (STO) are executing a comprehensive plan to transform the MICE industry, which is facing a crisis to the point where 80% of the events have been canceled since the COVID-19 pandemic. They plan on adopting the hybrid format, which is the new global industry standard. Hybrid...   Read more

The Seoul Metropolitan Government’s (SMG) support to 100 promising start-ups with its “growth acceleration package” through an investment of KRW 10 billion for their continuous growth against stagnation caused by COVID-19 is showing visible results. The SMG allowed the startups to use the fund in areas they need, such as commercialization, R&D, employment and new...   Read more

The Seoul Metropolitan Government (SMG) will be holding the Seoul Innovation Challenge over the course of 10 months starting on March 16, being the first local government to use an open platform to solve urban problems and lead Industry 4.0 while discovering innovative ideas and technologies. Celebrating the 5th anniversary, Seoul Innovation Challenge has discovered...   Read more

Despite the present situation of investors’ market sentiment being generally low due to COVID-19, Seoul’s foreign direct investment (FDI) recorded the highest figure in 2020, having exceeded USD 10 billion for two consecutive years. According to the UN Conference on Trade and Development (UNCTAD), global FDI for 2020 was USD 850 billion, which saw a...   Read more

The Seoul Metropolitan Government (SMG) will be implementing its five major public economic policies to respond to the economic recession and lack of jobs caused by the prolonged COVID-19 pandemic. This is SMG’s second economic measure this year following a low-interest loan of KRW 800 billion at the beginning of 2021. With limited financial resources,...   Read more

With Seollal, the most important holiday for Koreans, just around the corner, 139 traditional markets in downtown Seoul will hold a special event for the Seollal holidays, where they will sell supplies for ancestral rites at discount prices and give free gifts. The Seoul Metropolitan Government (SMG) announced that 139 traditional markets in Seoul will...   Read more

The Seoul Metropolitan Government (SMG) will invest KRW 321.3 billion into 1,045 digitization projects in 2021 to advance its digital service innovation using smart technology during the COVID-19 era. The SMG will especially invest KRW 126.3 billion into 220 smart city projects. The SMG’s digitization projects have been analyzed to create 3,245 jobs according to...   Read more

The Seoul Metropolitan Government (SMG) will be issuing KRW 100 billion of prepaid gift certificates starting on Mon, Dec. 28, 2020 for urgent support to small businesses as part of its efforts to provide assistance to businesses affected by restricted business operations due to social distancing. For the benefit of consumers, the gift certificates will...   Read more

How will the financial market change in the post-COVID-19 era? The 2020 Seoul Finance Week & Seoul International Finance Conference took place at Yeouido for three days from Wed. to Fri. on Nov. 4–6, 2020, to seek the strategies for the development of the finance of Seoul and check its opportunities and competitiveness. It comprised...   Read more

The Seoul Metropolitan Government (SMG) will launch ON Seoul Market, an extensive 100-day online consumer spending campaign, to revive consumer spending that has been shrinking due to the prolonged COVID-19 pandemic. The goal of the market is to promote citizens’ consumer spending to increase sales for small and local businesses as well as revitalize the...   Read more

The Challenge 2021 consists of the technology competition and the academic paper competition to find “Innovative Technology to Improve the Air Quality in the Seoul Subway” Any company, university, and research institute from around the world can submit their ideas, and qualified teams will be supported in the development of their trial products The academic...   Read more