Seoul, South Korea, enters top 10 of international financial centre rankings for third consecutive year

The city of Seoul in South Korea has been ranked 10th in the ranking of international financial centers. This is higher than Paris in France (17th) and Tokyo in Japan (22nd), and it will be expanded by three years from 2023 to 2026.
This marks the first time that Seoul has been ranked in the top 10 for two consecutive years. The city of Seoul has compiled the Global Financial Center Index, which evaluates the competitiveness of the financial industry in major cities around the world.
On the 20th, the company announced that it had ranked 10th overall in the Global Centres Index (GFCI) released by the British consulting group Z/Yen.
The index is based on the FCI's 37th Report, which the company has been publishing every March and September since 2007.
The GFCI was jointly launched by the Z/Yen Group and the China Development Institute (CDI).
The ranking is based on five evaluation criteria, including human resources, business environment, development of the financial industry, infrastructure, and city reputation, and is calculated by combining the results of an online survey of financial professionals around the world.
In the 37th GFCI, Seoul surpassed Frankfurt (11th) to rank 10th. Among major cities in the world, New York and London ranked 10th.
They take the first and second places, followed by Hong Kong (3rd) and Singapore (4th). Seoul was ranked 36th in 2019, but rose to 16th in March 2021 and 17th in March 2022.
It has steadily risen to 12th place and will be in the top 10 every year from 2023 onwards. In particular, it has maintained its 10th place in the "Fintech" field for two consecutive years, demonstrating its competitiveness as a digital financial city.
The city said the GFCI results are a step toward revitalizing the digital finance sector, including the success of companies housed in the Seoul Fintech Lab and the holding of Seoul Fintech Week.
The Seoul Fintech Lab has been working to improve its business by providing a wide range of services to fintech startups.
The company has supported 368 startups and has raised a cumulative total of 453.8 billion won in investments by 2024. In 2024, it was selected as one of the top 100 startups in Asia by Forbes.
Travel Wallet, a mobile-based money exchange and remittance company, and E-Money, Korea's first online P2P finance company, which recorded a cumulative loan amount of 947.7 billion won as of March 2025.
In his written congratulatory message, Seoul Mayor Oh Sehun said, "Recently, we have been working to develop cutting-edge industries through the expansion of future industry infrastructure and R&D investment.
"To achieve this, we will promote financial innovation together with the private sector-led growth strategy 'KOGA (KOrea Growth Again)' and strive to create a business-friendly financial environment," he said.
"We ask for your continued interest and support for this trip to Seoul, the global financial center where many foreign companies, capital, and talent gather."