Seoul has taken a top spot in global financial center rankings, and Busan has placed for the first time. 

In the Global Financial Centres Index (GFCI) this year, Seoul came in seventh and Busan was placed 27th among 83 cities around the world. Climbing three notches from 10th place in September 2013, Seoul trailed only New York, London, Hong Kong, Singapore, Zurich and Tokyo.  

The Global Financial Centres Index's top 20 cities. (image courtesy of the Ministry of Strategy and Finance)

The Global Financial Centres Index's top 20 cities. (image courtesy of the Ministry of Strategy and Finance)



Seoul has been rising in the general rankings since 2009. It was 35th in 2009, 24th in 2010, eleventh in 2011, sixth in 2012 and tenth in 2013. Since 2012, Seoul has ranked in the top ten, making this year its third time in the upper echelons. In subcategory rankings, Seoul came in ninth place in human capital and financial sector development and eighth place in terms of infrastructure. 

Busan was ranked 27th, being recognized for the first time as an international financial center. Busan also came in second place in terms of growth potential. In the rankings for Asian cities, Seoul was fourth, after Hong Kong, Singapore and Tokyo, the same as last year. Busan, again, was ranked for the first time and placed in eighth place among Asian cities.    

Five key area rankings of the GFCI. (image courtesy of the Ministry of Strategy and Finance)

Five key area rankings of the GFCI. (image courtesy of the Ministry of Strategy and Finance)



The Global Financial Centres Index is compiled twice a year by Z/Yen Group, a City of London-based think tank. It measures competiveness of the world's major financial centers. Z/Yen surveyed 1,930 people working in the financial industry around the world and took into account statistics of 83 cities, as well as countries and provinces where the cities are located. 

By Limb Jae-un
Korea.net Staff Writer 
jun2@korea.kr 


[Source: korea.net]