Seoul is the capital and largest metropolis of South Korea with a population of over 10 million, making it one of the largest and densely populated cities in the world. This unique city is distinguished by its modern skyscrapers, high-tech subways and pop culture, but is also known for its beautiful Buddhist temples, palaces, and street markets. Seoul is considered to be a leading global city and is home to major multinational companies like Samsung, LG, and Hyundai-Kia. Being the 4th most economically powerful city in the world, Seoul is the ideal destination for the IBT 2018.
South Korea had one of the world's fastest growing economies from the early 1960s to the late 1990s, and South Korea is still one of the fastest growing developed countries in the 2000s, along with Hong Kong, Singapore, and Taiwan, the other three members of Asian Tigers. The South Korean economy is heavily dependent on international trade, and in 2010, South Korea was the sixth largest exporter and tenth largest importer in the world. Nearly a quarter of South-Korea’s population live in Seoul, making it the country’s foremost economic, political, and cultural center.