Top 3 Major Business Districts (CBD) in Seoul, Korea

TOPIC : Business in Korea Incorporation

Seoul, the capital city of South Korea, belongs to the league of Asia Pacific’s highly sustainable workplace markets, along with being a cultural hub of the region.

Korean cuisine, cinema and pop music have an immense influence all over Asia, transforming the city into a tourist resort of global appeal, while Seoul’s rank as a business hub, depends on the might of its financial services sector and the power of Korean chaebols (corporations) makes it a well-liked investment terminus.

Close to 10 million people have their homes in Seoul, but the bigger built-up area houses 25 million, which is close to 50 per cent of the population of South Korea. The city’s key sectors are finance, manufacturing and retail. The internet speed provided within the country is among the worlds fastest and public WiFis can be easily reached.

The city proudly carries three primary office districts: the CBDGwanghwamun, the Yeouido Business District (YBD) and the Gangnam Business District (GBD). These CBDs are the country’s heart and soul and longest-serving business districts and also the major shopping areas of Seoul.

They take account for a diverse range of businesses. Though research statistics show a CBD vacancy rate of 16.7%, however, it has exhibited a significant rise in rents since the past few months.

Gwanghwamun – Rise through the Ranks as Seoul’s Premium Business District

Gwanghwamoon Business Disctrict, Seoul Business, Korea Business, Korea Business Location

Gwanghwamun, in the heart of Seoul, rules the topmost position in the listing of the country’s business districts, on the parameters of annual sales and sales volume per individual.

Business districts can be ranked on the basis of the statistical data of geography, population, sales, type of business and consumer’s trends of consumption, as well as information on a map.

According to a report, places around Gwanghwamun Station registered the highest sales of 5.8 trillion won ($4.6 billion) in a single year, around approximately eight times hike as against the 2013 review. The area’s separate sales were reported at 3.9 million won.

After blending with the sale figures of adjoining areas like City Hall Station and Jonggak Station, the overall sales figure in the area would exceed 12.7 trillion won.

The swift upsurge of sales near the Gwanghwamun region can be ascribed to the clustered population who went out in public through the whole-month duration torchlight procession and other end-of-the-year events conducted at Gwanghwamun Square.

On the other hand, Apgujeong Station in the swanky Gangnam district was placed at 19^th position, a sensational drop from number three, five years ago. Areas near Gangnam Station that registered its best volume of sales in 2013, were positioned at 13th.

Apart from key business districts in Seoul; Nam-gu in Ulsan, Jung-gu in Busan, places adjoining Seohyun Station in Seongnam and Beomgye Station in Anyang, Gyeonggi Province showed up in the top 20 list.

Yeouido

Korea Business, Korea Business Office, Seoul Business Center

This YBD is present on a tiny island of the Han River, has been in the limelight for its financial residents – the Korea Stock Exchange lives there along with media firms. Lately, it has turned into a hub for foreign-owned businesses, majority of them have shifted to Seoul IFC development; having a combination trio of office high-rises, a hotel and a shopping arcade.

Built by AIG, presently it belongs to Brookfield. The office market in the YBD is still getting used to Seoul IFC’s working premises and Q1 vacancy was 24.4%.

Yeouido sprawls across 8.4 square kilometers of island sculpted by the Han River in western Seoul. The island gets its fame as the big economic district of Seoul, a registered address for several investment enterprises and banks.

Additionally, the island holds the National Assembly where the regulations and political decisions of paramount importance to Korea are conceptualized and framed, the governing agencies of the Korean financial sector just like Financial Supervisory Service, Korea Financial Investment Association and the exemplary buildings like IFC SEOUL and 63.

Yeouido has grown up and matured as a financial district from the last 70's when the KRX (Korea Stock Exchange) shifted base to Yeouido from CBD. Because the district identity looks similar to a financial and banking nuclear center of the city that is geographically placed on an island with a park, YBD is usually known as the Wall Street of Korea.

Gangnam

Gangnam Business District, Seoul Business Disctrict

Gangnam is stationed in Seoul, south of the Han River, which splits through the city. It is among the several bridges of the city that bridges Gangnam with the adjoining areas to the north of the Han and also city centers.

GBD (Gangnam Business District) used to be a farming area running in the reverse gear until 40 years ago. Nevertheless, this area has made its footprint as the educational, commercial and focal point in Korea and is armed to the teeth with administrative buildings on Gangnam-daero and Teheran-ro, centered on the Gangnam Station area.

Every kid who loves to dance is familiar with ‘Gangnam Style’, - YouTube has more than 3 billion official views of this video. However, a considerably smaller number of people are aware that Gangnam belongs to Seoul in the capacity of a major office district.

Gangnam houses several hi-tech and media agencies and another name for it is the Beverly Hills of Seoul. It is a highly robust office market, owing to limited resources and available positions of only 5.1%.

GBD is at number two, on the scales of biggest business districts in Seoul, with reference to the entire leasing area of grade A & B office buildings.

Conclusion

Seoul has numerous universal districts. The evolution in the number of foreign nationals is most likely to hit the roof with schemes for foreign investment sectors throughout the town.

When global firms make an entry into the Korean market, one of the initial choices to decide where in Seoul to set up their office. Now we have an overview of the three major business districts that are high-density areas, dotted with office buildings.

Seoul’s Metropolis area comprises 400 logistics centers of area 10,000 sqm or more, with 25% of overall retail online sales. With these statistics, exceeding expectations for the sector is an understatement.

Explore More Insights

South Korea’s New Business Gold Rush: Expand Fast in Asia with Korea EOR Services

South Korea’s New Business Gold Rush By Pearson Partners Editorial Team SEOUL — Long defined by K-pop and cutting-edge electronics, South Korea is now tuning into a different rhythm—one composed of venture capital, tax breaks, and a surge of global businesses staking their future in Asia's fourth-largest economy. In 2023 alone, foreign direct investment (FDI) surged to $32.7 billion, driven by bullish commitments in semiconductors, clean mobility, and AI infrastructure. And with streamlined regulations and generous government incentives, Korea is no longer just a cultural trendsetter—it’s a serious corporate contender. “You’re not late to the game—you’re early to the next big thing.” For companies considering Asian expansion, South Korea offers a clear, accelerated path to market—either via a full company setup or through EOR services (Employer of Record), enabling agile hiring without forming a legal entity. A Regulatory Landscape Built for Growth Underpinning Korea’s FDI-friendly framework are two key laws: FIPA (Foreign Investment Promotion Act) FETA (Foreign Exchange Transactions Act) These have been continually revised to eliminate red tape, except in sectors tied to national defense or cultural sovereignty. For most industries—including tech, manufacturing, and green energy—the gates are wide open. Restrictions still apply to: National defense and postal systems (fully restricted) Nuclear, broadcasting, and press (partially limited with <1% foreign ownership) FDI Hotspots: Where Global Capital Is Headed Highlights from 2023 include: 7.5% YoY growth in overall FDI Massive investments in semiconductors and batteries R&D surges in clean energy and mobility This dovetails with Korea’s long-term economic playbook: digital leadership, sustainability, and future-proof infrastructure. Incentives that Speak the Language of Investors Foreign businesses setting up in Korea or leveraging EOR services can access: Tax Exemptions: Up to 7 years of corporate and income tax holidays Real Estate Benefits: Hefty cuts in acquisition and property taxes Cash Grants: Government-funded support for hiring, R&D, and land purchases Foreign Investment Zones (FIZs): Infrastructure, discounted rent, and tailored support Even cultural ventures—from film studios to fitness centers—can qualify for special exemptions. Why Korea? Five Strategic Advantages Highly Educated Workforce: Global top-tier in STEM and tech literacy World-Class Infrastructure: High-speed 5G, smart cities, efficient logistics Tech Giant Ecosystem: HQ to Samsung, LG, and global R&D hubs Stable Financial System: Strong foreign reserves, sound monetary policy Geopolitical Gateway: Direct access to China, Japan, and ASEAN markets How to Set Up a Company in KoreaThe Steps: Choose your entity: Corporation (Chusik Hoesa), LLC (Yuhan Hoesa), or Branch Office Submit documents to Korea’s Commercial Registry Deposit capital and open a business bank account Pass investment screening (if applicable under FIPA) Apply for industry licenses and register for taxes Secure visas for foreign workers (E-7, D-8, etc.) Or—take the EOR services route to test the waters with zero upfront infrastructure. South Korea: Asia’s Best-Kept Business Secret The message is loud and clear: Korea is open for business, and it’s open for yours. Whether you're scaling a tech startup or planting the regional flag of a global enterprise, the support systems are in place—and the timing couldn't be better. Need expert guidance? Let Pearson Partners Korea guide your business expansion—end-to-end, legally compliant, and fully localized.

How to Set Up a Company in Korea: 2025 Guide

"In the heart of Asia, South Korea is rewriting the rules of global commerce. For foreign investors, it’s not just a market—it's a springboard into the future."Breaking into Korea: Your Business Blueprint By Pearson & Partners – Special to The Global Business Report In today’s hyper-connected, digitally accelerated world, few places ignite as much global interest as South Korea. With its advanced infrastructure, high-tech innovation, and strategic location, Korea is fast becoming a nucleus for foreign businesses seeking long-term growth. But venturing into this market takes more than ambition—it requires strategy, insight, and precision. A Golden Gateway: Why Korea? From Seoul’s fast-paced financial district to the innovation labs of Pangyo Techno Valley, Korea offers unparalleled business potential. Setting up a subsidiary here—commonly referred to as Korea company setup—provides more than just local market access. It’s a launchpad into the wider Asia-Pacific region. Step One: Understanding the Business Terrain Before anything else, a deep dive into Korea business registration is non-negotiable. The journey begins with selecting the right legal entity—most commonly, a Chusik Hoesa (joint-stock company) or Yuhan Hoesa (limited company). Each comes with distinct legal, operational, and financial implications. The registration phase includes preparing the Articles of Incorporation, designating directors, and submitting essential documents to Korean government bodies. This is the cornerstone of your Korean business identity. Step Two: The Legal Form That Shapes Your Future A Chusik Hoesa suits larger firms seeking to scale rapidly and attract investors through share issuance. On the other hand, a Yuhan Hoesa is ideal for SMEs looking for flexibility and fewer compliance obligations. Your choice affects taxation, liability, and reporting—making professional legal advice essential. Step Three: Mastering the Finance Game South Korea’s financial system is robust—and rightly so. Compliance with foreign exchange laws and understanding capitalization requirements is critical. One of the first financial steps is opening a Korean corporate bank account, essential for payroll and operations. Capital transfer into Korea must follow strict guidelines, reinforcing the seriousness of your business intent. Navigating this terrain is smoother with the help of experts fluent in Korea’s financial and regulatory ecosystem. Step Four: Planting Physical Roots Location matters. Whether you're targeting Seoul’s tech-savvy consumers or Busan’s industrial hubs, choosing the right base is vital. This stage involves real estate negotiation, lease management, and ensuring infrastructure is in place—from high-speed communications to ergonomic office setups. Understanding Korean property laws and establishing tech networks also forms the backbone of operational success. In short, this is where your business goes from blueprint to reality. Strategic Execution = Long-Term Success Success in Korea company setup doesn’t happen overnight. It demands more than checklists—it calls for insight, adaptability, and a long-term vision. But with thorough preparation, you gain access to one of the world’s most stable, tech-driven, and dynamic economies.

Your Fast Track to Korean Market Access

South Korea is a global business goldmine—but entering it can feel like decoding a puzzle in a foreign language. That’s where a strategic partner like an EOR unlocks the door.South Korea’s Business Boom, Simplified: Why Smart Companies Choose EORs South Korea has quietly become one of the most promising destinations for international expansion. With a robust economy, political stability, and a transparent legal environment, the country offers global businesses the rare opportunity to scale in Asia with confidence. But for many companies, the real challenge lies not in why to expand—but how. Enter the Employer of Record (EOR): the behind-the-scenes powerhouse enabling companies to launch, hire, and operate in South Korea without the friction of legal entity setup, payroll headaches, or compliance landmines. What is an EOR? An Employer of Record (EOR) is a third-party organization that officially hires and manages employees on your company’s behalf. It takes over full HR and administrative responsibility in the local market, including: Onboarding and offboarding employees Managing payroll and local tax compliance Handling employee benefits and social insurance Drafting contracts aligned with Korean labor law Offering day-to-day HR and legal support By working with an EOR, businesses sidestep the legal complexity and time investment of setting up a Korean corporation—yet still get boots on the ground fast. Why Use an EOR for Your Korea Expansion? Let’s talk benefits. Setting up a legal entity in Korea can take months and a significant capital investment. A qualified EOR accelerates this timeline to days or weeks, reducing friction, cost, and risk. Top reasons companies opt for EORs in Korea: Faster Market Entry: Hire local talent quickly and start operations almost immediately. Regulatory Confidence: Stay compliant with Korea’s strict labor and tax laws. Streamlined Payroll: Enjoy frictionless salary disbursement and reporting. Legal Risk Mitigation: Avoid penalties with expert-managed HR. Cost-Efficiency: Skip high legal and infrastructure costs of establishing a local entity. While onboarding speed can vary by industry and role type, no other method gets you operational in South Korea as efficiently as an EOR. How to Choose the Right EOR in Korea Not all EOR providers are created equal. Selecting the right partner can make or break your Korea strategy. Here’s what to look for: ✅ Local Legal & Tax Expertise ✅ Responsive, Bilingual Support ✅ Clear, Predictable Pricing ✅ Digital HR & Payroll Systems ✅ Strong Employee Benefits Offering With the right partner, your Korea entry can go from “maybe someday” to “live and hiring” in record time. Take the Next Step Expansion shouldn’t mean complication. Whether you're building your first remote team in Asia or testing a new market, a trusted EOR partner empowers your growth without the red tape. At Pearson & Partners Korea, we specialize in helping global companies establish a legal, compliant, and confident footprint in South Korea through premium EOR services. Our approach is fast, transparent, and tailored to your strategic goals.

Explore All Insights

We bring the World to Korea, and take Korea to the World.