The competitive landscape among global cities is evolving. The competition is no longer confined to the 12 hours of daylight; the ability to generate production and consumption after sunset is becoming a new benchmark for urban competitiveness.
London already sees about a quarter of its urban economy operating at night. Sydney is implementing a national '24-hour economy strategy,' while Singapore has integrated late-night culture and tourism into its national tourism strategy. Tokyo is also extending the stay of international tourists through its vibrant late-night entertainment, shopping, and dining scenes.
In this global context, Seoul has become the first city in South Korea to prominently feature 'Night Time Economy' as a key urban growth strategy.
On July 15, during the first regular meeting of the 9th elected administration, the Seoul city government adopted the revitalization of the night economy as a core agenda item and began formulating a comprehensive plan that connects culture, tourism, commercial districts, transportation, and safety.
Oh Se-hoon, the mayor of Seoul, described the night economy as a new growth strategy that connects culture, tourism, commercial districts, and transportation into a single ecosystem, aimed at transforming citizens' leisure culture and enhancing urban consumption and vitality.
This initiative goes beyond merely increasing nighttime festivals or tourism products; it represents a paradigm shift in converting the city's sleeping hours into economic activity.
The '2026 Night Economy Report' released by the World Economic Forum estimates the global night economy to be worth between $3 trillion and $4 trillion annually, accounting for about 3% of global GDP. It also indicates that one in ten people employed worldwide is directly or indirectly connected to the night economy.
The report evaluates the night economy not just as a nightlife or club industry but as a vast urban economic ecosystem that combines performances, tourism, accommodation, dining, transportation, safety, cultural content, and creative industries.
London already sees about a quarter of its urban economy operating at night. Sydney is implementing a national '24-hour economy strategy,' while Singapore has integrated late-night culture and tourism into its national tourism strategy. Tokyo is also extending the stay of international tourists through its vibrant late-night entertainment, shopping, and dining scenes.
In this global context, Seoul has become the first city in South Korea to prominently feature 'Night Time Economy' as a key urban growth strategy.
On July 15, during the first regular meeting of the 9th elected administration, the Seoul city government adopted the revitalization of the night economy as a core agenda item and began formulating a comprehensive plan that connects culture, tourism, commercial districts, transportation, and safety.
Oh Se-hoon, the mayor of Seoul, described the night economy as a new growth strategy that connects culture, tourism, commercial districts, and transportation into a single ecosystem, aimed at transforming citizens' leisure culture and enhancing urban consumption and vitality.
This initiative goes beyond merely increasing nighttime festivals or tourism products; it represents a paradigm shift in converting the city's sleeping hours into economic activity.
The '2026 Night Economy Report' released by the World Economic Forum estimates the global night economy to be worth between $3 trillion and $4 trillion annually, accounting for about 3% of global GDP. It also indicates that one in ten people employed worldwide is directly or indirectly connected to the night economy.
The report evaluates the night economy not just as a nightlife or club industry but as a vast urban economic ecosystem that combines performances, tourism, accommodation, dining, transportation, safety, cultural content, and creative industries.
A prime example is London.
According to the London Nightlife Taskforce report released this year, the city's night economy generates over £139 billion (approximately $260 billion) annually and supports more than one million nighttime workers. The London city government operates an independent nightlife taskforce to manage policies related to venue preservation, late-night transportation, licensing improvements, noise conflict resolution, and safety management.
Sydney, Australia, is also enhancing its urban competitiveness through a '24-hour economy strategy' led by the New South Wales government, which promotes late-night public transport, the entertainment industry, small business support, and regulatory relief as a package. Recently, Australian cities have been competitively fostering the night economy as a key growth driver, with major cities like Brisbane expanding late-night transport and regulatory innovations.
Singapore is extending tourist spending hours into the night by combining late-night performances, media art, and culinary tourism around Marina Bay, Clarke Quay, and Jewel Changi Airport. Tokyo has similarly built its 'city that never sleeps' brand by linking shopping, performances, and food culture with late-night tourism in areas like Ginza, Shinjuku, and Shibuya.
Seoul is now looking in the same direction.
The city government has recognized that despite possessing world-class tourist attractions like DDP, Gwanghwamun Square, the Han River, and Namsan, there has been a lack of structure connecting tourists' stay times to consumption in local commercial districts.
To address this, DDP, Gwanghwamun Square, Namsan, and Han River Park will be designated as 'Night Economy Coexistence Zones,' providing incentives for nighttime operations and supporting late-night public transport as a package. The 'Seoul Moonlight Night Market' will be piloted in five locations this year, with plans to expand to 25 locations by 2028.
Additionally, the city will increase nighttime openings for museums, galleries, and palaces, and is considering expanding late-night bus services and introducing autonomous late-night transport.
A key feature of this policy is its implementation framework.
Seoul has formed a joint task force involving seven departments, including the Planning and Coordination Office, Economic Office, Cultural Headquarters, Transportation Office, Public Relations Planning Office, Tourism and Sports Bureau, and the Civil Affairs and Labor Bureau, led by the Night Economy Special Advisor. This signifies that the night economy will not be treated as a mere event by a specific department but as a core municipal agenda encompassing urban planning, economy, culture, transportation, and safety.
Mayor Oh plans to personally oversee the night economy for at least the next six months, driven by a sense of urgency regarding the livelihood economy.
The strategy aims to revitalize small businesses and self-employed individuals, which make up about 90% of all businesses in Seoul, and to create new job opportunities in the cultural and tourism sectors that may be threatened by the spread of AI.
The cultural and tourism industry is estimated to have a job creation effect three to five times greater than that of manufacturing. Extending tourists' stay into the night can lead to increased consumption across various sectors, including performances, exhibitions, dining, accommodation, transportation, security, cleaning, and content creation.
Cities around the world are already viewing nighttime as an asset rather than a cost.
London has developed nighttime as a pillar of urban production, Sydney is promoting a 24-hour economy as a national strategy, and Singapore and Tokyo are leveraging nighttime tourism as a competitive advantage for their city brands.
Seoul is also actively working to establish a 'Seoul-style Night Economy Model' that integrates culture, tourism, local commercial districts, transportation, and safety.
The reason Mayor Oh chose the night economy as a core agenda item during the first meeting of the 9th elected administration is to declare a shift in Seoul's future growth engine from a 'daytime city' to a '24-hour vibrant city.'
* This article has been translated by AI.
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