Places 42nd in Global Cities Outlook Rankings
The Federation of Korean Industries recently analyzed Kearney’s Global Cities Report and announced on March 10 that Seoul ranked 17th out of 150 cities in the Global Cities Index of the consulting firm. Seoul fell six notches in five years to show the steepest decline in the top 30 group.
The index is divided into the five assessment categories including enterprise activity, human capital and information exchange. The report showed that Seoul’s competitiveness deteriorated in terms of business and economic activities, overseas exchange, etc.
The growth potential of the city decreased even more. Specifically, Seoul dropped from 12th to 42nd in five years in the Global Cities Outlook rankings covering business friendliness, administrative capabilities, private investment attraction, etc.