Seoul is the capital and largest metropolis of South Korea. Seoul is the business and financial hub of the country. An economic boom, regarded by them as the Miracle on the Han River, transformed it from the ashes of the Korean War to the world’s 4th largest metropolitan economy with a GDP of US$774 billion in 2012 after Tokyo, New York City and Los Angeles.
A world leading technology hub centered around Gangnam and Digital Media City, it boasts the world’s sixth largest number of Fortune Global 500 multinationals such as Samsung, LG and Hyundai-Kia. In 2012, the city’s GDP per capita (PPP) of $39,4481 was comparable to that of Germany and Sweden.
Among 30 global cities, Seoul ranked joint first in technology readiness by PwC’s Cities of Opportunity report. Seoul Station is the main terminal of the KTX high-speed rail and the Seoul Subway is the world’s largest subway network, considered the world’s best subway by Jalopnik, providing 4G LTE, WiFi and DMB inside subway cars. Seoul is connected via AREX to Incheon International Airport, rated the world’s best airport nine years in a row (2005–2013) by Airports Council International.
Seoul proper is noted for its population density, which is almost twice that of New York and eight times greater than Rome. Its metropolitan area was the densest in the OECD in Asia in 2012, and second densest worldwide after Paris.
The traditional, labour-intensive manufacturing industries have been continuously replaced by information technology, electronics and assembly-type of industries. However, food and beverage production, as well as printing and publishing remained among the core industries.
Major manufacturers are headquartered in the city, including Samsung, LG, Hyundai, Kia and SK. Notable food and beverage companies include Jinro, whose soju is the most sold alcoholic drink in the world. It also hosts food giants like Seoul Dairy Cooperative, Nongshim Group and Lotte.
A large concentration of international companies are headquartered in Seoul. The Korea Exchange Bank is also headquartered in the city.