Economy in Seoul

Seoul is certainly one of the cities that are worth to visit when interested in Asian culture. This city is not only the capital of South Korea but it is also the city that can offer people a very different perspective on life. Here are one or two things about its economy and its finances.

Seoul is known as a major business hub and it has developed into one of the most economically important part of the country. It hosts the headquarters for Samsung, LG, SK, Kia and Hyundai and although it is a rather small piece of land in South Korea, accounting for 0.6% of its land area, this city generates a quarter of the country’s GDP. This alone says much about the economic importance of the capital.

Also when it comes to finance, Seoul is the leading city in South Korea in terms of number of transactional companies that are headquartered here. Internationally renowned banks such as Citigroup, Deutsche Bank, ING Bank, Standard Chartered, UniCredit, Societe Generale, and others can be found in this city. Korea’s own Exchange bank is also headquartered here.

Nevertheless, provides shopping addicts with plenty of possibilities. The most modern and newest shopping mall in Seoul is Times Square which hosts the largest cinema screen in the world, Starium Cinema, according to Guinness World Records. Also, the city is home to the largest market in South Korea, namely the Dongdaemun Market. The oldest market in the city is Namdaemun Market and it is visited by most tourists when they get in this part of the world. those passionate about culture and art may also visit the Insadong market in Seoul where one can see tradition and modern Korean artworks alike. Some of the most common such artworks include painting, calligraphy and sculptures as well as many others.

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