Seoul is the business and financial hub of South Korea. Although it accounts for only 0.6 percent of the nation's land area, it generated 21 percent of the country's GDP in 2006. In 2008 the Worldwide Centers of Commerce Index ranked Seoul No.9. The Global Financial Centres Index in 2012 listed Seoul as the 6th financially most competitive city in the world. The Economist Intelligence Unit ranked Seoul 15th in the list of "Overall 2025 City Competitiveness" regarding future competitiveness of cities.
The largest wholesale and retail market in South Korea, the Dongdaemun Market, is located in Seoul. Myeongdong is a shopping and entertainment area in downtown Seoul with mid- to high-end stores, fashion boutiques and international brand outlets. The nearby Namdaemun Market, named after the Namdaemun Gate, is the oldest continually running market in Seoul. Sinchon is a shopping area that caters mainly to a younger and university student crowd.
Insadong is the cultural art market of Seoul, where traditional and modern Korean artworks, such as paintings, sculptures and calligraphy are sold. Hwanghak-dong Flea Market and Janganpyeong Antique Market also offer antique products. Some shops for local designers have opened in Samcheong-dong, where numerous small art galleries are located. Itaewon caters mainly to foreign tourists and American soldiers based in the city. The Gangnam district is one of the most affluent areas in Seoul and is noted for the fashionable and upscale Apgujeong-dong and Cheongdam-dong areas and the COEX Mall. Wholesale markets include Noryangjin Fisheries Wholesale Market and Garak Market. The Yongsan Electronics Market is the largest electronics market in Asia.
Times Square is one of Seoul's largest shopping malls featuring the CGV Starium, the world's largest permanent 35 mm cinema screen. Sources
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