Seoul – Comprehensive Overview of the City, PEST Analysis and Key Industries including Technology, Tourism and Hospitality, Construction and Retail

“City Profile – Seoul” provides historical and forecast data on key city level metrics along with analytical coverage of the latest political, economic, social, technological, infrastructural, legal and environmental issues affecting Seoul.

• The report contains detailed tourism, retail, construction, technology and public infrastructure data and insight into economic, social, and industry trends.

Seoul, the capital and economic centre of South Korea, accounted for 22.8% of the nation's economy in 2023. Renowned for its strong connectivity, skilled workforce, advanced infrastructure, thriving business and R&D sectors, and favourable corporate tax policies, the city plays a pivotal role in the country's financial landscape. Although Seoul's economy grew by 1.5% in 2023, its post-pandemic recovery lost momentum due to challenges from external forces, which have slowed growth in manufacturing and services. Despite these hurdles, gradual progress is visible, supported by recoveries in manufacturing and trade, with some improvement in larger retail stores.

Scope

Key Findings:

• The service sector is key driver of Seoul city’s economy, accounting for 92.2% of the total GVA in 2023

• The housing market saw a decline in 2023 amid various economic challenges, resulting in nationwide price drops. High interest rates, financing constraints, and delays in normalizing real estate taxes are expected to continue influencing price decreases in 2024, even with a projected economic recovery.

Reasons to buy

Gain a comprehensive knowledge of future economic and demographic trends and understand the performance of various sectors within the city.

Analyze and understand the business environment in the city to align your investment and expansion strategies.

The report helps to drive a conclusion in choosing a suitable city to invest or expand according to your business structure.

Explore new opportunities in the hospitality, tourism, construction, real estate and retail sectors.

Table of Contents

1. City Snapshot

2. PEST Analysis

2.1 Political

2.2 Economic

2.3 Social

3. Technology and Infrastructure

3.1 Communications

3.2 Internal Transport Networks

3.3 Connectivity

3.4 Airport

3.5 Port

4. Business Environment Analysis

5. Travel and Tourism

5.1 Tourism Flows

5.2 Hotels

5.3 Attractions

5.4 Events

6. Construction and Real Estate

6.1 Investment

6.2 Real Estate Market

7. Retail

7.1 Retail Market

7.2 Consumption, Income and Prices

About MarketLine

Contact Us

List of Tables

Table 1: Seoul city – key facts (estimates), 2023

Table 2: Seoul city– real GDP and real GDP growth, 2000–30

Table 3: Seoul city– economic growth comparison (Index 2010=100), 2000–30

Table 4: Seoul city– GDP per capita comparison, 2000–30 ($)

Table 5: Seoul city– employment structure, 2000–30 (% of total)

Table 6: Seoul city – main universities, 2023

Table 7: Seoul city– population comparison, 2000–30 (million)

Table 8: Seoul city– population by age, 2000–30 (% of total)

Table 9: Seoul city – mass transit network indicators, 2023

Table 10: Seoul city – Incheon International Airport, key indicators, 2018–23

Table 11: Seoul city – Gimpo International Airport, key indicators, 2018–23

Table 12: Seoul city – UNESCO World Heritage sites

Table 13: Seoul city – MICE and other events

Table 14: Seoul city – median price on an average of apartment sales by region Q1 2022–Q4 2023 ($/m2)

List of Figures

Figure 1: Seoul city– real GDP and real GDP growth, 2000–30

Figure 2: Seoul city– economic growth comparison (Index 2010=100), 2000–30

Figure 3: Seoul city– GDP per capita comparison, 2000–30

Figure 4: Seoul city– employment structure, 2000–30 (% of total)

Figure 5: Seoul city– population comparison, 2000–30

Figure 6: Seoul city– population by age, 2000–30 (% of total)

    Pricing

Quick Buy
Add to basket Enquire before buying

Discounts available for multiple purchases.

reportstore@marketline.com
+44 20 7947 2960

Saved reports