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Seoul, South Korea News About Seoul, South Korea Seoul is the capital city of the Republic of Korea as well as a business hub for the Northeast Asian region. A focal point of industry in Korea, the city is located between China and Japan, the two largest country markets in Asia. With an economic development plan launched in the 1960s as its starting point, Seoul has played a crucial role in the remarkable growth of the Korean economy and advanced rapidly in a number of areas. Today, Seoul boasts a strong financial base, highly efficient logistics, and unparalleled competitiveness in the high-tech IT industry and knowledge industries. Although Seoul accounts for only 0.6 percent of the entire country's land area, it generates 21 percent of Korea's GDP, while 50 percent of Korea's financial assets are concentrated there. In addition, over 43 percent of high-tech venture firms are based in Seoul, attracting great interest and capital from foreign investors. As a base for logistics and the global consumer market, Seoul offers a strong transportation network consisting of airports, a high-speed railway, expressways and port facilities. By air, Seoul provides access to the entire Northeast Asian market - whose 1.8 billion consumers represent 22 percent of global GDP - in under three and a half hours. The transcontinental railroad that will be linked with Korea in the future will provide access to China, Russia, and as far as Europe. At Incheon International Airport, which is located near Seoul, about 50 airlines provide regular flights to more than 130 destinations worldwide. Nearly one-third of the universities in Korea are located in Seoul, which ensures that quality human resources are easily available. Other Major Cities:
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