South Korea’s capital is gearing up to become the next New York or London
Image credit: Linuxfoundation.org
Despite being the home of tech titans Samsung and LG, Seoul is still considered out of the league of such Asian cities such as Hong Kong, Singapore and Tokyo. That may soon change.
In a joint study, The Business of Cities Group and property consultancy Jones Lang LaSalle (JLL) extolled Seoul as a “standout city” with enough strengths to join the ‘Big Six’ global cities of Hong Kong, London, New York, Paris, Singapore and Tokyo.
JLL based its findings on the South Korean capital’s stellar performance across the latest city indices for business and investment activity. Seoul recently placed eighth on the Mori Global Power City Index and ninth on the AT Kearney Global Cities Index.
According to JLL, Seoul is catching up rapidly with Tokyo as East Asia’s most advanced economy, thanks to several “business and talent ingredients” such as successful domestic firms and strong human capital.
More: Is Seoul making its way on to investors’ radar?
Seoul is especially notable for accumulating greater knowledge assets. A proactive education policy has included it in the study’s top 10 cities for university quality and reach.
One of the 15 most visited cities in the world, Seoul is also in the top 10 for culture, lifestyle and openness. In addition, the city powered to number 7 on the 15 top cities for internal transportation.
As noted by The Business of Cities, Seoul has appeared in 62 of the 100 main global city indices.
Last year, Seoul ranked number 7 and beat all other Asian cities on the Arcadis Sustainable Cities Index. The city placed second overall on its People subindex, which measures social performance or the interaction between a city and its community.
Read next: How Seoul beat Hong Kong in the latest sustainability index
Source : property-report.com
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