Seoul: South Korea is set to transform its entrepreneurial landscape by 2030, with plans to develop four cities that will be ranked among the top 100 globally for startups. This initiative was announced by the Ministry of SMEs and Startups as part of a strategic road map designed to broaden the nation's startup ecosystem, which is currently concentrated in the capital, Seoul.According to Yonhap News Agency, the Ministry's plan highlights the need to diversify beyond Seoul, which currently stands as the only South Korean city within the top 100 startup cities worldwide, holding the 21st position. In contrast, other cities like Busan, Daejeon, and Incheon are ranked significantly lower, at 366, 429, and 458 respectively. This disparity underscores the ministry's goal to elevate these cities into competitive startup hubs by the end of the decade, thereby enhancing South Korea's overall ranking, which is currently the 20th best in the world according to a 2024 report by StartupBlink, a global innovation economy research platform.The ministry's initiative is not only a response to the existing concentration of startup resources in Seoul but also an effort to stimulate regional economic growth and innovation. By fostering startup-friendly environments across multiple cities, South Korea aims to create a more balanced and dynamic economic landscape.
- October 12, 2026
