The financial competitiveness of Seoul City was ranked 28th, the highest position it has recorded since being assessed by the Global Financial Centers Index (GFCI), in the latest GFCI report published by the City of London Corp. on March 12. In September of last year, Seoul sat in 35th place, up 18 notches from the previous report. In the latest biannual report, Seoul rose by seven notches to highlight the considerable progress made by the city over the past year. Compared with the same period of last year, Seoul’s ranking increased by 25 places.
In particular, Seoul was ranked third among Asian cities in a questionnaire that asked respondents to assess which cities were likely to become more significant as a financial hub in the next few years. The ranking proved that Seoul could become one of the three financial hubs in Asia and maintain its momentum towards increasing its ranking in future GFCI reports.
The considerable progress in the past two GFCI reports was a result of the ‘Customized Overseas PR & Marketing’ activities carried out by Seoul City, city officials said. Such activities were responsible for raising the profile and awareness of Seoul’s financial competitiveness, which hitherto had been undervalued, to bankers and financial executives around the world.
With the aim of making Seoul one of the top 10 financial centers in the world, the city plans to complete the construction of the Seoul International Financial Center earlier than scheduled and implement a variety of incentive measures.