Seoul launches $65 bil. plan targeting global top 3 city status by 2030

Seoul will invest 86.1 trillion won ($65 billion) through June 2030 in 100 projects aimed at placing the Korean capital among the world’s top three cities, with a focus on enhancing the quality of residents’ daily lives.

Mayor Oh Se-hoon unveiled the G3 Seoul Plan at Seoul City Hall on Thursday, presenting it as his administration’s overarching agenda for responding to the rise of artificial intelligence (AI), demographic shifts and intensifying competition for global talent.

Of the total, 53.7 trillion won will come from the Seoul Metropolitan Government, while the central government will cover 9.2 trillion won, while private companies and other sources will contribute 23.2 trillion won.

Under the vision of “Global Top Seoul, a city of exceptional quality of life,” officials said they will measure global competitiveness not only through economic and industrial indicators, but also through changes residents can experience in their everyday lives, including housing, health care, safety, education and transportation.

One of the key elements of the initiative is the city’s push to prepare for the arrival of 30 million foreign visitors. The city government plans to develop an integrated payment app, dubbed OK-Seoul, that would connect overseas mobile payment systems with public transportation, tax-refund services and tourism information.

The platform is intended to reduce practical barriers for foreign travelers, allowing visitors to navigate payments and essential services more easily during their stay, officials said.

The G3 plan is organized around five future goals: a healthy and safe city, a city of inclusive growth, a housing-stable city, a city of opportunity and vitality and a city of spatial innovation, with 20 strategic targets and 100 core projects under the framework.

Among them is a 10-minute exercise zone, intended to ensure residents can have access to exercise facilities within 10 minutes of their residence. For housing, the city government plans to begin construction on 310,000 homes by 2031 through its rapid integrated planning system. It also aims to start the construction of 40,000 units under its redevelopment program, known as Moa Housing, and supply 130,000 public housing units.

The city government will also launch the Youth AI Ladder program, which will provide AI-use vouchers and free basic education to 500,000 young people. The plan includes measures to attract and support the settlement of foreign professionals with master’s and doctoral degrees.

To reinforce its tourism and industrial competitiveness, Seoul officials will expand nighttime programming at the Han River, Mount Nam and Dongdaemun Design Plaza, while fostering four new industrial hubs — Sangam-Susaek, Gasan-Guro, Changdong-Sanggye and Godeok-Gangil — beyond the current three: central Seoul, Yeouido and Gangnam.

Seoul also aims to become a world-leading autonomous-driving city, increasing the number of autonomous buses from 16 to 500 by 2030.

In the Global Power City Index compiled by the Institute for Urban Strategies of Japan’s Mori Memorial Foundation, Seoul ranked sixth in the latest edition last year, up from seventh in 2022. It trailed London, Tokyo, New York, Paris and Singapore.

“I will make the five goals and 100 key projects my administration’s top priorities, see them through to the end and prove their value through results, not declarations,” Oh said. “Over the next four years, I will make Seoul a global top city that people around the world want to visit and where citizens want to live for life — a special city defined by quality of life. I will ensure that Seoul’s solutions become a standard that helps shape the future of Korea.”