Seoul Economy

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Information as of 21 Feb, 2017

Fair Trade City, Seoul

Fair trade is a trade agreement based on communication, transparency, and mutual respect, assuring fairer international trade. In particular, it provides better trade conditions for the Third World’s alienated manufacturers and workers while also guaranteeing their rights to contribute to sustainable development.Fair trade organizations supported by consumers actively participate in campaigns intended to change the regulations and customs of existing international trade while also supporting the manufacturers and enhancing awareness of fair trade itself.

What is fair trade? (Definition of Fair Trade)

We will actively pursue fair trade with the Third World as well as the fair trade movement to alleviate poverty and make Seoul an international fair trade city.

What is fair trade?

Cultivation of knowledge-based industry

Seoul economy’s development is being led by the fortification of small and mid-sized companies’ technological competitiveness, acquisition of intellectual properties, and cultivation of high value-added-type industries and creative and innovative manpower.

Cultivation of knowledge-based industry | Create IP's future competitiveness - Protection of knowledge - | Cultivation of BS industries' high added value -Spread of intelligence- | R&D Support future food -Create knowledge-
  • Improve capabilities for technological innovation to lead the growth of companies, support securing of intellectual copyright, and foster the basis for high value-added industries.

  • Train creative professional manpower to beused as the new growth engine for
    the future economy of Seoul.

Seoul International Business Advisory Council (SIBAC)

Seoul utilizes the advice and suggestions on its city policies from renowned international enterprises and experts to become a true global city. (Formed in 2001)

※ SIBAC : Seoul International Business Advisory Council

  • The members in each area as of Feb. 2014 are 25: 4 in manufacturing industry, 3 in consulting, 6 in banking and insurance, 2 in the press, 2 in culture, 3 in environment, and 5 in other areas. Including 5 advisers, there are 32 members in total. 

History of SIBAC General Meetings
  • 2001 Foundation meeting
  • 2002 Seoul, a regional foothold
  • 2003 The requirements to be a financial center
  • 2004 Strategies to differentiate Seoul
  • 2005 Seoul, a good place for investment
  • 2006 ‘Change of recognition’ of Seoul as the optimum place for corporate activities
  • 2007 Seoul, a global city for tourism and convention
  • 2008 Seoul being born again with culturenomics
  • 2009 Brand marketing strategy of Seoul, a global city
  • 2010 The era of the leap of Asia: Opportunity and challenge of Seoul
  • 2011 General meeting was cancelled
  • 2012 Seoul as a role model of the partnership among public sector, private sector and citizens
  • 2013 Seoul as a model of tourism and entertainment industries

Specialist Industrial Complex

Wishes to contribute to the activation of the industry and job creation by improving citizens’ awareness of the manufacturing industry and attracting superior manpower through support for the 4 major city-type manufacturing businesses that form the foundation of Seoul’s economy.Refers to the 4 core industries (apparel, jewelry, printing, machinery) that involve more than 70% of the Seoul Metropolitan Government’s manufacturing labor force

1. Jongno Jewelry Business Activation – Jewelry Business Center Establishment

Status of Jongno Jewelry Business

  • Current number of Jongno Jewelry businesses: 2,915 (36.8% against Seoul’s total)
  • People working in the jewelry industry: 12,008 (27.2% against Seoul’s total)
  • More than 50 % of Korea’s jewelry distribution is from Jongno.
  • More than 60% of jewelry imports and exports are from Jongno. ※ 2011 standards; data: Wolgok Jewelry Business Research Institute

Characteristics of the jewelry business

  • Appropriate for city-type manufacturing
  • Labor-intensive, environment-friendly business
  • Industry with great cultural expansion potential
  • Social enterprise-type industry appropriate for Seoul

2. Mapo design․publishing industry activation – Establish a design․publishing café.

Center of creativity

  • Description : Cultivate Seoul’s design·publishing industry hub through the clustering of design·publishing industries and develop into a creative core for design·publishing related manpower, research, enterprise, and everything related to design·publishing.
  • Strategy : Acquire Design Support Center anchor facilities. / Induce the stimulation of industry clustering by designating a special development complex.

Local innovation

  • Description : Cultivate and make use of digital, media, publishing, design (industry, visual, product design, etc.) areas and pursue the innovation of Mapo industries through fusion and combination with general business and other industries.
  • Strategy : Establish an industry-academe connection system. / Establish a private·public cooperation network. / Stimulate synergy through the fusion and combination of the design·publishing industry and other industries.

Renowned industrial site

  • Description : Promote the Mapo region design·publishing industry to the world through foreign marketing and play a core role in making Seoul an international design·publishing city in the future.
  • Strategy : Open up foreign routes. / Exhibit and bring in renowned international design·publishing. / Provide incentive to businesses that will make the Design Street and Promenade Street famous brands.

3. Operate the Seongsu IT Center.

Status of the facility

  • Location : Archvalley, 37 Seongsu-dong, Seongsui-ro 22-gil, Seongdong-gu, Seoul
  • Size : 9,909.35㎡
  • Rooms : 31 rooms
  • Rent : 4,000 won/㎡
  • Facility : hall, meeting room, computer training room, etc.

Subjects

  • Condition : Businesses less than 5 years old
  • Lease period : 2 years (can be extended by 1 year)
  • Businesses : IT, BT, R&D

4.  Printing Industry Development Institute Complex

Status of the Seoul Printing Center

  • Location : Seoul Printing Center, 140 Mareunnae-ro, Junggu, Seoul
  • Floor area : 1,170㎡
  • 1st floor (570㎡) – Printing Culture PR Center, Data Room, Office
  • 2nd floor (600㎡) – Operate common facilities, education center, business consulting room, etc.
  • Main business : Common facility support, human resources training, export support, PR exhibition