Seoul losing attractiveness as global city
Posted : 2021-03-10 16:12
Updated : 2021-03-11 09:31
By Bahk Eun-ji
Seoul Metropolitan City has been losing competitiveness in terms of its business and residential environments, according to reports, Wednesday.
The Federation of Korean Industries (FKI) analyzed the Global Cities Report issued by the U.S. consulting firm A.T. Kearney and the Global Power City Index (GPCI) by Japan s Institute for Urban Strategies at the Mori Memorial Foundation, and found that Seoul s urban competitiveness has been on a continuous decline since 2015.
A.T. Kearney said Seoul s ranking on its Global Cities Index (GCI), which shows urban competitiveness, sank from 11th in 2015 to 17th in 2020, among the 150 cities studied for its report. Compared to this, the rankings of San Francisco and Shanghai rose significantly from 22nd to 13th and from 21st to 12th, respectively.