Miracle on the Han River
Seoul is considered a leading and rapidly rising global city, resulting from an economic boom and growth and placing Seoul second in the world’s largest metropoles. With the Korean war that came at its end only 50 years ago it is interesting to see how Seoul has grown into a global city in such little time. This growth was so spectacular that Seoul is often called ‘The miracle on the Han River’. South Korea invests about 3.5% of its GDP in R&D, with this South Korea provides for a 4% of the world’s total R&D investments.
Innovation in Seoul
There are several clusters established in Seoul, one of them is Teheran Valley, Silicon Valley’s counterpart. In Teheran Valley a number of internet related companies are established. Seoul has the fastest internet connection of the world. Seoul has build a convenient and extensive public transportation network, consisting of the world’s largest subway system. The different types of companies, SME’s and multinationals, with a focus on innovation within the different study tracks, and knowledge institutes offer opportunities for students in the Science and Innovation Management program.
Seoul’s architecture is relatively new, due to the damage after the Korean War. However, there are still many old temples, palaces and old parts of the city to be seen which blend in with new architectural buildings and skyscrapers. The Korean business habits are based on trust and relationships; inviting people for lunch or dinner is very common and Koreans are known for their hospitality. Seoul is filled with bars and coffeeshops where the Koreans love to spend their free time. All in all, there is a lot to discover here for students.