{"id":380,"name":"Seoul","countryId":72,"stateId":null,"bounds":"37.4259627,126.7645827,37.7017495,127.18359","latitude":37.5665,"longitude":126.978,"website":"http://epicenter.or.kr/","population":25600000,"clusterParent":380,"tractionRank":51,"slug":"seoul","customDescription":"![aerial photography of lighted city high rise buildings during dawn](https://images.unsplash.com/photo-1506816561089-5cc37b3aa9b0?ixlib=rb-4.0.3&ixid=M3wxMjA3fDB8MHxzZWFyY2h8MTB8fHNlb3VsfGVufDB8fDB8fHww&w=1000&q=80)\n
Seoul, the capital city of South Korea, boasts a rich education landscape, with over 50 universities that are globally recognized for efficiency, particularly in research and development (R&D). In 2021, South Korea exhibited an impressive tertiary qualification rate of 69% among 25-34 year-olds, surpassing the average of OECD countries, which stood at 47%. This highly educated workforce provides a strong talent pool for businesses seeking skilled professionals. South Korea's global talent competitiveness is further demonstrated by its ranking among the top 30 countries in the Global Talent Competitiveness Index 2022.
\n\n
The country's infrastructure is also a key advantage. South Korea ranked 8th in the Global Quality Infrastructure Index 2021, highlighting its advanced and well-developed infrastructure. Incheon Airport, one of Seoul's major international airports, is consistently recognized as one of the world's best airports in the annual rankings by Skytrax. Moreover, Seoul's subway system is renowned for its convenience, cleanliness, and frequency of service, providing efficient transportation for residents and businesses.
\n\n
The city hosts various events that contribute to its vibrant startup ecosystem. One notable event is [COMEUP](https://comeup.org/), a renowned startup and tech conference organized by the Korean Ministry of SMEs and Startups and the government body KISED.
\n\n
South Korea boasts a thriving startup ecosystem, supported by various programs and incentives. One such initiative is the [OASIS](http://www.oasisvisa.com/index.html) program, which offers foreign entrepreneurs startup visas and comprehensive support. Additionally, angel investors and venture capitalists can take advantage of a noteworthy tax deduction of up to 50% for investments that fall below the 50 million Won threshold. In a bid to attract global startups, the K-Startup Grand Challenge not only encourages their presence in South Korea but also assists in securing [visas](https://www.k-startupgc.org/project/faq.do) for participating teams. Moreover, the [Seoul Global Center](https://global.seoul.go.kr/) provides valuable incubation services specifically tailored to nurture promising early-stage foreign startups.
\n\n
To further promote innovation, the Digital New Deal initiative, a part of the Korean New Deal 2.0, aims to augment investment in various sectors, including the digital economy, metaverse, cloud computing, blockchain, and convergence. The startup ecosystem is further strengthened by institutions such as the Korea Venture Investment Corp., a government-backed fund of funds management entity. Additionally, South Korea benefits from the Korea Investment Fund, a sovereign fund dedicated to boosting the startup ecosystem.
\n\n
With its attractive public sector incentives, robust education system, skilled talent pool, advanced infrastructure, high-speed internet, and dynamic startup events, Seoul presents itself as an appealing destination for businesses and entrepreneurs looking to relocate or invest.
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