Seoul is ranked 10th among 130 cities worldwide in this year's Global Financial Centres Index. The photo is an aerial view of the capital. (Korea.net DB)

By Park Hye Ri 

The Seoul Metropolitan Government on March 23 said the capital ranked 10th in the Global Financial Centres Index (GFCI), which evaluates the financial competitiveness of cities worldwide.

According to the GFCI 33 report released that morning by the British consulting group Z/Yen, Seoul finished 10th out of 130 global cities in financial competitiveness, the municipal authority said.

This is the first time for the capital to rank in the index's top 10 in 7 1/2 years since September 2015, when it finished sixth. This time, Seoul went up one notch from its 11th-place showing in September last year and was rated higher than other leading cities such as Beijing (13th), Paris (14th) and Tokyo (21st).

Seoul finished in the top 15 in four of the GFCI's five categories: business environment (10th), infrastructure (fifth), financial sector development (10th), and reputational and general (ninth). In the latter category, the city saw its ranking rise three notches from last year's.

In financial technology (fintech) competitiveness, the capital ranked 12th, up from 14th in September last year to earn recognition for its high competitiveness as a digital finance city.

Seoul also topped the list of 130 cities in centers "likely to become more significant," continuing since last year its status as a "city with high potential for future growth."

Deputy Seoul Mayor for Economic Policy Kim Tae-kyoon said, "The release of the GFCI rankings has fully proven Seoul's appeal and competitiveness as a city of global finance," adding, "We will develop Seoul into a global financial hub that attracts more foreign capital and talented human resources."

Since 2007, Z/Yen has released the GFCI every year in March and September to gauge the financial competitiveness of world cities.

hrhr@korea.kr