Key Drivers of Seoul's Economic Competitiveness

Abstract

This study examines the economic competitiveness of the Seoul Metropolitan Region. The survey instrument was distributed to experts, high-ranking employees and CEOs of relevant private firms, asking current conditions and future competitiveness requirements of the primary drivers of competitiveness (i.e., cost of doing business; dynamics of local economies; human capital; strategic infrastructure; responsiveness of economic governance to business needs, and quality of life). The survey revealed that indicators under 'cost of doing business,' 'responsiveness of economic governance to business needs,' and 'dynamics of local economies' are required to be improved to contribute to the competitiveness of the city.