Seoul aims for global top 3 city status by 2030 with $64.3 billion investment

Seoul plans to invest 86.1 trillion won ($64.3 billion) in key projects aimed at elevating its global competitiveness to that of a "global top three" city by 2030, according to Mayor Oh Se-hoon. The initiative, announced on Thursday, September 10, 2026, follows Oh's re-election to his third consecutive term as Seoul mayor.

The city government's strategy centers on enhancing residents' quality of life and integrating new technologies through 100 major initiatives. These include establishing exercise zones within a 10-minute radius of all homes and providing artificial intelligence service passes to 500,000 young people. Additionally, Seoul aims to increase its fleet of self-driving buses to 500 by 2030, up from the current number of 16.

In the housing sector, the city intends to commence construction of 310,000 housing units by 2031, utilizing rapid integration planning. This effort is coupled with a push to supply 130,000 public housing units to counter rising real estate prices.

Seoul was ranked sixth in the 2025 Global Power City Index compiled by the Mori Memorial Foundation of Japan. London led the index, followed by Tokyo, New York, Paris, and Singapore. The index evaluates cities based on economy, research and development, cultural interaction, livability, environment, and accessibility.