page_title: Seoul
section_title: Economy
hierarchical_section_title: Seoul / Economy
caption_attribution_description: Gangnam area is located in the South of Seoul.
context_page_description: Seoul, officially the Seoul Special City, is the capital and largest metropolis of South Korea. Seoul has a population of 9.7 million people, and forms the heart of the Seoul Capital Area with the surrounding Incheon metropolis and Gyeonggi province. Considered to be a global city and rated as an Alpha - City by GaWC, Seoul was the world's 4th largest metropolitan economy with a GDP of US$635 billion in 2014 after Tokyo, New York City and Los Angeles. International visitors generally reach Seoul via AREX from the Incheon International Airport, notable for having been rated the best airport for nine consecutive years by the Airports Council International. In 2015, it was rated Asia's most livable city with the second highest quality of life globally by Arcadis, with the GDP per capita in Seoul being around $40,000. In 2017, the cost of living in Seoul was ranked 6th globally. In 2020, Seoul's real estate market was ranked 3rd in the world for the price of apartments in the downtown center. Seoul was one of the host cities for the official tournament of the 2002 FIFA World Cup, which was co-hosted by South Korea and Japan.
context_section_description: Seoul is the business and financial hub of South Korea. Although it accounts for only 0.6 percent of the nation's land area, 48.3 percent of South Korea's bank deposits were held in Seoul in 2003, and the city generated 23 percent of the country's GDP overall in 2012. In 2008 the Worldwide Centers of Commerce Index ranked Seoul No.9. The Global Financial Centres Index in 2015 listed Seoul as the 6th financially most competitive city in the world. The Economist Intelligence Unit ranked Seoul 15th in the list of "Overall 2025 City Competitiveness" regarding future competitiveness of cities.
caption: Gangnam Commercial Area
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