Seoul is the capital of South Korea. With a municipal population of over 11.8 million and a metropolitan population totaling over 25.6 million, Seoul is by far South Korea's largest city, South Korea's political, economic and financial hub and one of East Asia's financial and cultural epicenters. It is a new modern city built on a fascinating blend of ancient traditions, shining history and cutting-edge digital technology. The city is located in the north-western portion of South Korea approximately 40 km east of the Yellow Sea. CBD: The traditional CBD, a well established market, is currently experiencing strong growth in new supply, expanding the boundaries of the district and increasing choice for occupiers. Key occupiers are commercial and investment banks, embassies, chaebol HQs, and property and business services. GBD: Fastest growing of late, newest major market. Gangnam is development constrained due to Teheran-ro (the main road with major buildings) having few vacant sites to build on. Key occupiers are IT, private banking, venture capital funds, chemicals, health and pharmaceuticals, and defence industry. YBD: Island (development constrained), government-driven plan. Strong support from Metro Government for Yeouido to emerge as a global finance hub. Numerous upscale projects to support finance hub ambition, although tax incentives not yet defined. Key occupiers are National Assembly, media, Korea Stock Exchange, and domestic securities.