Seoul Ranks High in World's Most Costly Cities
A Chosun Ilbo article reports that Seoul was ranked fifth highest costly city in a survey of 144 world cities.
In a survey conducted by the international consulting firm Mercer Human Resource Consulting (MHRC), it showed Tokyo at the top and Osaka climbing from fourth to second.
Analysis shows that the effect of the Korea's strong won meant Seoul's price index went from 104.1 last year to 115.5 this year. Seoul has jumping from seventh to fifth place.
MHRC conducts the survey every year to provide data to national governments and multinational corporations that send officials and staff abroad.
MHRC collects data in about 200 categories including housing, food, clothes, household goods, transport fees and entertainment costs. Interestingly, it computes the indexes using New York as its benchmark.
New York came in at No. 13 but other U.S. cities like Los Angeles (No. 44), San Francisco (No. 50), Chicago (No. 52) and Washington DC (No. 78) finished in the middle ranks.
In a survey conducted by the international consulting firm Mercer Human Resource Consulting (MHRC), it showed Tokyo at the top and Osaka climbing from fourth to second.
Analysis shows that the effect of the Korea's strong won meant Seoul's price index went from 104.1 last year to 115.5 this year. Seoul has jumping from seventh to fifth place.
MHRC conducts the survey every year to provide data to national governments and multinational corporations that send officials and staff abroad.
MHRC collects data in about 200 categories including housing, food, clothes, household goods, transport fees and entertainment costs. Interestingly, it computes the indexes using New York as its benchmark.
New York came in at No. 13 but other U.S. cities like Los Angeles (No. 44), San Francisco (No. 50), Chicago (No. 52) and Washington DC (No. 78) finished in the middle ranks.
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