Seoul has long been considered to be a step behind its Asian contemporaries such as Hong Kong, Singapore and Tokyo despite being the home to Samsung and LG, two of the largest tech companies in the world. However, a recent study conducted by The Business of Cities Group and Jones Lang LaSalle (JLL) noted that this might soon change.
The report concluded that Seoul is a “standout city” with enough positives to join the ‘Big Six’ global cities of Hong Kong, London, New York, Paris, Singapore and Tokyo. According to JLL, Seoul is catching up rapidly with Tokyo as East Asia’s most advanced economy, due in part to several “business and talent ingredients” such as successful domestic firms and strong human capital.
Seoul is also one of the 15 most visited cities in the world and ranks in the top ten for culture, lifestyle and openness. In addition to this, the city has superb infrastructure ranking seventh out of the 15 top cities for internal transportation.
The Business of Cities also pointed out that Seoul has appeared in 62 of the 100 main global city indices. Other accolades for the city include being ranked number seven on the Arcadis Sustainable Cities Index making it the highest placed Asian city. Seoul also placed second overall on the People sub-index, which measures social performance or the interaction between a city and its community.
JLL based its findings on the South Korean capital’s performance across these city indices for business and investment activity. It was also noted that Seoul recently placed eighth on the Mori Global Power City Index and ninth on the AT Kearney Global Cities Index.
This story was originally published on property-report.com and is reproduced as part of an editorial partnership between DDproperty.com and Property Report.
