Seoul climbs to 8th on financial centers index, beating Tokyo, LA

The view of the financial district of Yeouido in Yeongdeungpo District, western Seoul. [YONHAP]

 
Seoul climbed to No. 8 among the world’s leading financial centers, its highest position in 10 years, reinforcing its position as a rising global hub for finance and investment, according to a new international ranking released Thursday.
 
The gain reflects stronger foreign investment, rapid growth in the city’s fintech sector, and improved infrastructure, signaling Seoul’s increasing ability to compete with established financial capitals such as Tokyo and Paris.
 

 
As the city ranked No. 8 out of 137 cities in the Global Financial Centres Index (GFCI) 39 report, it ranked higher than Tokyo, which placed No.10, and Paris, which came in No. 19. Chicago and Los Angeles, which previously ranked No. 6 and No. 7, respectively, fell to No.14 and No.12.
 
The GFCI, compiled by British consulting firm Z/Yen Group and the China Development Institute, is a global ranking that evaluates cities as financial centers based on factors such as business environment, human capital, infrastructure and industry development, along with surveys of finance professionals.
 
The index has been published since 2007. Seoul was first included in 2009, ranking No. 53. The city rose to a record high of No. 6 in 2015 before dropping out of the top 10, then rebounded to No. 16 in 2021 and has climbed steadily to its current position.
 
Seoul showed balanced performance across all five categories. It ranked No. 6 in the business environment, its highest category, followed by No. 8 in both human capital and financial sector development. The city ranked No. 9 in reputation and No. 10 in infrastructure.
 
The city attributed the improved ranking to increased foreign investment and the expansion of its fintech industry. The global popularity of Korean culture also contributed to raising the city’s international profile, according to the city’s analysis.
 
“The results show that Seoul is achieving balanced growth across its financial ecosystem,” said Jin Seon-young, head of the Finance & Investment Division at the Seoul Metropolitan Government. 
 

Lights shine at the Yeouido financial district in Yeongdeungpo District, western Seoul, on Dec. 28, 2025. [NEWS1]

 
Global companies have recently established offices in Seoul, including U.S. data cloud firm Snowflake, Swiss quantum security company ID Quantique and French quantum computing firm Pasqal.
 
Startups supported by Seoul Fintech Lab, including CrossHub and GhostPass, received awards at CES 2026. CrossHub won a Best of Innovation Award in the fintech category at CES 2026, while GhostPass received an Innovation Award. The awards are part of the CES Innovation Awards, a global technology competition organized by the Consumer Technology Association.
 
The infrastructure ranking improved notably, rising from No. 19 to No. 10 in the previous evaluation. In October last year, the city launched Invest Seoul, an agency dedicated to attracting investment. It also operates a dual support system for fintech firms, nurturing early-stage startups at the Second Seoul Fintech Lab and supporting more established companies at its main center.
 
Globally, New York and London ranked No. 1 and No. 2, respectively, followed by Hong Kong, Singapore and San Francisco.
 
“The improved ranking once again demonstrates Seoul’s global financial competitiveness,” said Seoul Mayor Oh Se-hoon. “Building on our advanced information and communications technology infrastructure and strong digital finance capabilities, we will continue to grow into a leading financial hub in Asia.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

BY MOON HEE-CHUL [[email protected]]