June 16, 2022 08:16
Seoul has been named one of the world's 10 best cities in which to launch a start-up business. A report released on Tuesday by global research firm Startup Genome ranked Seoul's start-up ecosystem 10th in the world.
The ranking is an all-time high for the city, up six spots from last year. It is calculated based on six factors: talent and experience, performance, funding, connectedness, market reach and knowledge.
In particular, Seoul excelled in terms of funding, thanks to an increase in venture capital.
The report evaluated 280 cities in 100 countries. California's Silicon Valley topped the list, followed by New York City and London tied at No. 2. Tokyo was at No. 12, the first time it has been outdone by Seoul in the rankings.
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