NEWS

Seoul’s GRDP per capita surpasses $40,000 in 2021, up 3.4% YoY

Date 2023-12-27 Writer seoulsolution
  • Post-pandemic growth in financial/insurance (23.2%) and ICT (8.3%) activities, but slowdown for hospitality and foodservice (-24.2%) and other cultural (-10.4%) activities
  • High YoY growth in order of Seongdong-gu (10.9%), Yeongdeungpo-gu (7.2%), and Gangseo-gu (6.4%)

The Seoul Metropolitan Government (SMG) announced that the city’s gross regional domestic product (GRDP), which evaluates all goods and services produced by market value, in 2021 was ₩472.04 trillion (22.7% of the national total). Based on the city’s projected population (9,501,528), the GRDP per capita measured ₩49.68 million ($43,404), a record-breaking amount when evaluated at the standard exchange rate.

The city announced this information via the Seoul Metropolitan Government GRDP Report (in Korean), which comprehensively evaluated the production scale of each municipal district as a result of economic activities in 2021. The report is available online and can be downloaded via the Seoul Open Data Plaza website (data.seoul.go.kr).