What are the major industries in Seoul?After the Korean War (1950-1953), Seoul, the surrounding Gyeonggi Province, and Incheon (Seoul Capital Area or Sudogwon) quickly grew into an important industrial center. This so-called “compressed economic development” of Seoul led to remarkably rapid growth and made South Korea one of the largest economies in the world. At the same time, however, this also led to greater regional disparities in the economy and the labor market.
Seoul alone generated around 23 percent of South Korea's total gross domestic product (GDP) in 2020. Including its surrounding regions, even more than 50 percent of GDP was produced in the Seoul Capital Area. The affluent Gangnam region south of the Han River had the largest economy among Seoul’s 25 districts. The service sector accounted for by far the largest share of the city's total gross regional product at about 90 percent, with wholesale and retail trade, business services, finance and insurance, and information and communications representing some of the city's leading industries.