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8 in 10 leading Korean firms are located in the greater Seoul area, report finds

Published: 25 Jun. 2025, 10:59

The photo shows Yongsan District and Mapo District as seen from Mount Namsan in central Seoul on March 9. [NEWS1]

Nearly 80 percent of Korea's top 500 companies by revenue are headquartered in Seoul, Incheon and Gyeonggi, underscoring a heavy concentration of major corporate headquarters in the greater Seoul area, a local market tracker said Wednesday.

According to a report released by CEO Score, 385, or 77 percent, of the top 500 companies are based in Seoul, Incheon and the surrounding Gyeonggi. In sharp contrast, only one company each is headquartered in Sejong and Gangwon.

The survey comes as discussions are gaining traction over relocating the headquarters of Korea's leading shipping company, HMM, to the southern port city of Busan following the launch of the Lee Jae Myung administration, which is seeking to relocate the Oceans Ministry to Busan within the year.

Most of the country's major conglomerates, including Samsung Electronics, Hyundai Motor and SK hynix, are located in the greater Seoul area.

Public enterprises, in contrast to private companies, are more evenly distributed outside the capital area due to policies promoting the relocation of government institutions and public agencies to provincial cities. Of the 22 public firms among the top 500, 17 are based outside the greater Seoul area.

"Provincial governments that host the headquarters of major conglomerates benefit from tax revenue, job creation and regional economic development. These survey results once again highlight the excessive concentration of corporate power in the Seoul metropolitan area amid growing concerns over regional population decline," the company said.

Yonhap