Seoul ranks seventh in global financial centers ranking — Korea Herald
Seoul, South Korea, ranked seventh among 139 cities in the new Global Financial Centers Index, rising one position compared with the previous report. The South Korean capital has remained among the world’s top 10 financial centers for the fourth consecutive year, Korea Herald reports.
Assessment of financial competitiveness
The Global Financial Centers Index is compiled by the London-based consulting group Z/Yen Group and the China Development Institute. The ranking is published twice a year, in March and September, and compares the competitiveness of major financial centers.
Cities are assessed across five areas: reputation, infrastructure, financial sector development, business environment and human capital. New York and London retained the top two positions in the new ranking. They were followed by Hong Kong, Singapore and Shanghai.
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Fintech positions
Seoul also ranked seventh in the financial technology category, its highest result in this segment. Seoul first entered the top 10 of the fintech ranking in 2024. City authorities attribute the improved positions, among other things, to programs supporting fintech startups.
According to city authorities, Seoul’s two fintech labs supported 530 companies. Their combined sales amounted to 1.11 trillion won, or $813 million; they attracted 574.6 billion won in investment and created 5,592 jobs.
Since 2009, when Seoul ranked 53rd, the city has risen by 46 positions. It ranked 16th in 2021 and 12th in 2022.
