Seoul has been picked as the Asian city with the best economic potential by British magazine Foreign Direct Investment.
The magazine's survey Asian Cities & Regions of the Future 2005/06 published in its January edition saw Seoul evaluated well in almost all categories, scoring best economic potential and coming second in IT sectors.
Other categories include cost effectiveness, human resources, transport, quality of life, and potential. Excessive rents both in the center and on the outskirts of the city was cited as a disadvantage.
Last October, Seoul ranked 55th along with Singapore in a survey of the best cities to live by the Economist Intelligence Unit, still ranking second among Asian cities behind Hong Kong, which took 41st place in the overall ranking.
Foreign Direct Investment is bimonthly magazine published by the Financial Times Business Group devoted to business environment and foreign investment trends across the world.