Korean Opportunities for Global Financial Occupiers
Summary & Recommendations
Korea is an attractive candidate for the relocation of Asia headquarters (HQs) of financials institutions. Seoul ranks fifth in our Top Locations in Asia report, and there are various government incentives and policies available to the financial sector.
- Among the World Bank’s financial development and human capital indicators, Korea is rated equal or better than Hong Kong*, Singapore, and Japan. Given Korea’s stable financial infrastructure, government-friendly fintech support policies, and the growing international asset and investment presence, we recommend financial occupiers consider Korea as a competitive financial hub.
- We recommend global financial occupiers take advantage of tax benefits and rent-free office space such as the Seoul Metropolitan Government’s rent subsidies of up to 70% for up to five years for space in One IFC Building in Yeouido.
- We also recommend financial sector occupiers relocating from Hong Kong to consider incentives such as the Busan Metropolitan Government’s offer of a rent-free lease on a 522 sq meter office in the Busan International Financial Center (BIFC).
