![[Graphic News] Seoul ranks 8th among global startup hubs](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F07%2F06%2Fnews-p.v1.20250706.e92e8fc8aa9642a3bb29d70ad465d85d_T1.gif&w=3840&q=100)
[Graphic News] Seoul ranks 8th among global startup hubs
The 2025 report analyzed the startup environments of 300 cities worldwide, and Seoul remained in the top 10 for the second consecutive year, moving up from 9th in 2024. The city first entered the top 10 in 2022 but dropped to 12th in 2023 due to challenges such as weak investment flows, high inflation and rising interest rates.
Topping the list were Silicon Valley (1st), New York (2nd) and London (3rd) — long-standing global leaders known for their deep talent pools, strong funding ecosystems and robust innovation infrastructure.
The Seoul city government highlighted that this year's all-time high ranking is especially meaningful as it places the city ahead of other major Asian startup hubs like Singapore (9th) and Tokyo (11th).

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Korea Herald
2 hours ago
- Korea Herald
North Korea opens Pyongyang trade fair to foreign visitors -- it costs $4,700
Journalists, influencers barred from joining tour A China-based travel agency specializing in tours to North Korea is now accepting bookings for a rare trip to Pyongyang this October, promoting access to the city's international trade fair as the highlight of the itinerary. North Korea's trade fair in October will be among the first major international events open to outsiders since the country sealed its borders during the COVID-19 pandemic. The tour is priced at 3,995 euros ($4,700). Journalists, travel content creators, and social media influencers are barred from joining the tour, according to Young Pioneer Tours, which is headquartered in China. The travel agency offers a 7-night, 8-day guided trip to Pyongyang from October 24 to November 1. The package also includes a visit to the scenic Mount Myohyang. 'This annual event is one of North Korea's largest and most important international expos, offering a rare window into the country's economic outreach and domestic development across key industries,' the company said on its website. The Pyongyang fair will have 450 exhibition booths featuring machinery, IT and consumer goods from domestic and international companies, it added. North Korea briefly resumed foreign tourism earlier this year for the first time since the pandemic, allowing a small group of travelers into the Rason Special Economic Zone in February. But the program was abruptly halted after a well-known European influencer posted photos and commentary about the trip online. The influencer, a German national, described scenes of poverty and underdevelopment, including residents in Rason still using ox-drawn carts.
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Korea Herald
6 hours ago
- Korea Herald
[Graphic News] Seoul ranks 8th among global startup hubs
Seoul has been ranked 8th in a global survey of the best places to start a business in a report by the US-based startup research organization Startup Genome. The 2025 report analyzed the startup environments of 300 cities worldwide, and Seoul remained in the top 10 for the second consecutive year, moving up from 9th in 2024. The city first entered the top 10 in 2022 but dropped to 12th in 2023 due to challenges such as weak investment flows, high inflation and rising interest rates. Topping the list were Silicon Valley (1st), New York (2nd) and London (3rd) — long-standing global leaders known for their deep talent pools, strong funding ecosystems and robust innovation infrastructure. The Seoul city government highlighted that this year's all-time high ranking is especially meaningful as it places the city ahead of other major Asian startup hubs like Singapore (9th) and Tokyo (11th).


Korea Herald
17 hours ago
- Korea Herald
Gov't, ruling party agree to strive to curb inflation, swiftly implement extra budget
The government and the ruling party agreed Sunday to make an all-out effort to stabilize prices and to swiftly implement the supplementary budget in an effort to better support the livelihoods of the people and spur economic growth, officials said. The agreement was made during a high-level policy coordination meeting between the ruling Democratic Party (DP) and the government held at the prime minister's residence in Seoul. The meeting marked the first of its kind since Prime Minister Kim Min-seok took office Thursday following his parliamentary confirmation hearing. "There was a shared understanding that every effort should be made to stabilize perceived inflation, as the high price levels continue to weigh on the people's livelihoods," party spokesperson, Park Sang-hyuk, told a press briefing. "The ruling party urged the government to maintain close communication with industry stakeholders to minimize price increases in processed foods and ease the burden on consumers. In response, the government agreed to actively consider the matter," he added. According to government data, consumer prices, a key gauge of inflation, increased 2.2 percent from a year earlier in June, marking the steepest on-year increase since January. Prices of processed food products, in particular, rose 4.6 percent on-year, the highest increase since November 2023, which contributed 0.39 percentage point to overall inflation last month. During the meeting, the DP requested the government to execute the second supplementary budget as quickly as possible "to avoid missing the golden window for economic recovery," and the government said it plans to execute 85 percent of the budget by the end of September, according to the lawmaker. The Cabinet on Saturday approved an extra budget bill of 31.8 trillion won (US$23.3 billion), marking the first supplementary budget under the Lee Jae Myung government. During the meeting, the government also reported that it would take measures to thoroughly prepare for natural disasters, such as floods and storms, and the two sides agreed to enhance responses to heat waves, Park noted. In his opening remarks, Kim said that the meeting serves as the key venue for coordinating the national agenda. "We plan to discuss ways to maximize the impact of the supplementary budget, public relief measures and thorough preparedness for summer disasters like heat waves," the prime minister added. Attendees from the ruling party included floor leader Kim Byung-kee, who is also serving as the party's acting leader, and Rep. Jin Sung-joon, the party's policy committee chair. They were joined by the prime minister, Yoon Chang-ryeol, chief of the Office for Government Policy Coordination, and First Vice Minister of Economy and Finance Lee Hyung-il. DP floor leader Kim urged the government to act quickly on multiple fronts, citing the need to implement the supplementary budget, ease the burden of high inflation and prepare for heat waves. (Yonhap)