Division and Korean War
After World War II and Korea's liberation, the city took its present name of Seoul. When the Republic of Korea (South Korea) was declared, the new state adopted the city as its capital.
In 1950, the Korean War broke out and Seoul changed hands between the North Korean forces and South Korean forces four times, leaving the city largely destroyed at the end of the war. One estimate of the extensive damage states that at least 191,000 buildings, 55,000 houses, and 1,000 factories lay in ruins. In addition, there were a flood of refugees from the North, swelling the city's population to an estimated 2.5 million persons. More than half of them were homeless.
Following the war, Seoul became the focus of an immense reconstruction and modernization effort. Rapid economic growth achieved during the industrialization of the 1960s and 1970s raised living standards of residents considerably. High-rise office buildings and apartments began sprouting throughout the city during the construction boom of the 1980s. Pollution and traffic jams became major issues as urbanization in the country accelerated and more and more people began moving to Seoul and its surrounding areas. Despite a green belt established around the city to prevent urban sprawl, the Seoul metropolitan area soon became the third largest in the world in terms of population and one of the most crowded.
Today, the population of the Seoul area comprises 24% of the total population of South Korea.
Seoul was the host city of the 1988 Summer Olympics as well as one of the venues of the FIFA World Cup 2002.
During the 1990s, the city began to attract many workers from other countries, changing demographics. Previously, nearly all of Seoul's residents were Korean. Today, there are an estimated 200,000 foreign nationals living in Seoul. These include laborers from Bangladesh, China, India, Indonesia, Mongolia, Nigeria, Pakistan, the Philippines, Uzbekistan, and Vietnam.
In addition, there are many language instructors from English-speaking countries such as Canada, Australia, New Zealand, South Africa, United States, and the UK, as a major business and financial center, Seoul also has many executives and analysts from North America, Europe, and Japan. Seoul ranks seventh in the world in terms of the number of Fortune 500 transnational companies headquartered there. It is also the world's second most expensive city, ahead of Tokyo and Hong Kong (ranked 3rd and 4th, respectively).
Read more about this topic: History Of Seoul
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