Economy of Seoul

As the center of the country's finance, Seoul is concentrated in Yeouido, where the headquarters of major stock exchanges and banks are located.

[12] The Downtown Seoul, which has 600 hundred years of history as unparalleled business district in entire Korea, is now a densely concentrated area around Gwanghwamun and Cheonggyecheon with headquarters of major companies, foreign financial institutions, largest news agencies and law firms.

Other two business districts are developed in 1970s and have different characteristic; while Gangnam is well known for tech, luxury and private education industries, Yeouido is famous for securities exchange and asset management.

[13] As significant portion of South Korean economy is propelled by manufacturing and tech firms, office market in Seoul is not driven by FIRE companies.

This characteristic is most clearly evident in Downtown Seoul, where most of foreign companies headquarters South Korean branch office regardless of their industry.

The city ranked 13th in business environment and financial sector development, seventh in human capital, 10th in infrastructure and 12th in reputation.

[5] Seoul's nowadays competency in financial industry is mainly found in Yeouido, which is often named as Wall Street of South Korea.

[19] Myeongdong is a shopping and entertainment area in downtown Seoul with mid- to high-end stores, fashion boutiques and international brand outlets.

[21] Insadong is the cultural art market of Seoul, where traditional and modern Korean artworks, such as paintings, sculptures and calligraphy are sold.

While Itaewon had catered mainly to foreign tourists and American soldiers based in the city, Koreans now comprise the majority of visitors to the area.

[34] Internet speeds in some apartment buildings reach up to 52.5 Gbit/s with assistance from Nokia, and though the average standard consists of 100 Mbit/s services, providers nationwide are rapidly rolling out 1Gbit/s connections at the equivalent of US$20 per month.

Myeong-dong is one of the most popular destinations in Seoul.