SEOUL – The Seoul Metropolitan Government said on Monday that it has begun turning Yeouido, home to finance and investment banking businesses in Seoul, into a more English-friendly area in a bid to transform it into a global financial hub.
The SMG will also distribute English contracts to local real estate agencies and English medical questionnaires to hospitals in Yeouido later in August.“We found that even in relatively large restaurants with tables for five or more people, they did not have English menus. We also observed the absence of English services in places such as real estate agencies and hospitals, causing inconvenience,” the official said.
The SMG has earmarked the basement and second floors of this building, which are owned by the Yeongdeungpo district government, for the library and cafe.Nonetheless, discussions are under way between the city and the district government regarding the funding of the facility’s operational costs, estimated to be around 3 billion won annually, according to industry sources.
The city is committed to spending a substantial sum of 59.35 billion won over the next five years to transform Yeouido.