We have been dancing to a South Korean beat for years without even realizing it. Over the past three decades, the country’s influence in the electronics industry, the automobile industry, telecommunications, shipbuilding and construction has become globally significant. It was only a matter of time before South Korea made a mark in mainstream popular culture. It happened in the summer of 2012.

An infectious rhythm starts. A man in sunglasses looks into the camera. “Oppa Gangnam Style!” And so it begins — the most successful viral video in history and the first YouTube video to receive more than 1 billion views.

Cultural commentators long anticipated the arrival of K-pop (Korean pop music) on the world stage, but nobody predicted the magnitude of the breakthrough. Almost overnight, the 30-something Korean rapper Psy became Korea’s first global superstar. His country’s image transformed.

It is more than coincidental the song namechecks a particular district of the South Korean capital. Gangnam, on the south bank of the Han River (Gang means “river” and nam means “south”), is the purest manifestation of modern Seoul. It is busy around the clock, it is high-tech, it is fashionable, and it exudes unbridled ambition and poise.

Property prices are so high, this small corner of the city, covering just 15 square miles, accounts for around 10 percent of the total real estate value of the whole of South Korea, while the district’s economic output contributes 7 percent of the country’s total gross domestic product.

We take the metro there, seamlessly passing beneath Seoul’s traffic-clogged streets, effortlessly bypassing the city’s geographic obstacles: the ring of granite mountains surrounding downtown; the broad, sluggish width of the Han River. We get off at Gangnam Station and take Exit 8 into the basement of one of the adjacent skyscrapers.

Without fanfare, we enter the world headquarters of Samsung Electronics. More precisely, we are in Samsung d’light, a three-floor annex that is part shop, part laboratory, part museum and part window into the future. Here is a chance to get hands-on with the next generation of smartphones, tablets and HD televisions.

D’light is predictably popular with young, techy Koreans, but as you wander among the gaudy displays of cutting-edge gadgets, you’ll also find yourself mingling with a broad cross-section of Seoulites. Seoul is the world’s most high-tech city. New innovations are not regarded with suspicion here; they are actively embraced.

The entire city is infused with the latest technology, but one district in northwest Seoul takes it to extremes. Until 1993, Duck Island was one of the city’s least attractive areas: a huge, festering landfill. In the buildup to the 2002 FIFA World Cup, which was jointly hosted by South Korea and Japan, the garbage dump was cleaned up and landscaped.

Digital Media City © Seoul Tourism Organization

When the tournament ended, a new use was proposed for this suddenly desirable real estate. Digital Media City was conceived, a gleaming new business center devoted to broadcasting, film, games, software and IT. In less than a decade, the city realized the vision. The exteriors and interiors of futuristic skyscrapers shimmer with colorful, everchanging LED displays and animations. Hundreds of companies and tens of thousands of employees are now based here.

The centerpiece of DMC is currently under construction. The 133-story Seoul Lite tower will be Korea’s tallest building when it is completed in 2015 and will incorporate an aquarium, a shopping mall, luxury apartments and a Ritz-Carlton hotel. From the upper floors, it will be possible to see all the way to North Korea and also to get a bird’s-eye view of the physical challenges that have impeded and molded modern Seoul. This is a city nestling in the embrace of 37 mountains.

In ancient times, when a succession of dynasties ruled Korea and the country was so insular it was widely known as the Hermit Kingdom, the lay of the land provided formidable defense. But in the decades after the Korean War, as South Korea embarked on its breakneck modernization and the population of Seoul grew from 1.5 million to 9 million in just 30 years, the city could no longer be contained by its natural confines. It spread out in every direction.

Modern infrastructure attempts to unify the expanding city. Tunnels through the mountains carry the main highways from downtown to the neighboring districts, and beneath everything lies the highly efficient metro system.

Yet the geographical obstacles remain, and over the past 20 years Seoul’s center of gravity shifted toward the Han River. Emerging districts such as Gangnam, DMC and Yongsan (formerly the location of a major U.S. military garrison, now redeveloping as Yongsan International Business District) have begun to overshadow the original downtown in economic importance.

The expansion of Seoul gradually absorbed nearby towns and cities, including Suwon to the south and the port of Incheon to the west, incorporated into the Seoul Capital Area. Covering 12 percent of South Korea’s total land area and supporting more than 25 million people, the Capital Area is the second-biggest metropolitan area in the world after Tokyo.

Seoul’s astonishing success masks an unexpected and worrying problem. For the past five quarters, the city’s population has been in decline. As a result of changing demographics (the population is aging; many young people are choosing to remain single and childless) and escalating property prices, increasing numbers of people choose to gravitate to the satellite towns. It is too soon to gauge the extent to which this trend will take hold, but for the first time in Seoul’s modern history, the city’s relentless expansion faces a possible reversal.

For now, Seoul exudes confidence. It is one of the most exciting and dynamic cities in the world, humming with activity night and day. At Samsung headquarters in Gangnam, many of the high-tech devices that we will all embrace in the next few years are being developed. In DMC, the impresarios of K-pop are plotting the next assault on the YouTube generation.

Almost imperceptibly, South Korea’s pulse filtered into our lives. The beat will only get stronger.

CHECKING IN WITH TAMI OVERBY

Tami Overby, President, U.S.-Korea Business Council © U.S.-Korea Business Council

President, U.S.-Korea Business Council

WHAT OPPORTUNITIES DOES SEOUL OFFER AMERICAN INVESTORS?
Korea is a major economy, and its strength in many key sectors makes it a desirable market for American investors. The U.S.-Korea Free Trade Agreement, or KORUS, implemented March 15, 2012, provided U.S. companies with unprecedented opportunities for increased bilateral trade and investment through tariff eliminations and greater market access across a wide range of industries. While there are some challenges with implementation that remain to be resolved, KORUS is intended to provide American investors with greater confidence to invest in Korea through increased transparency and predictability. The opening of Korea’s legal market under KORUS is also welcome news to American investors, as more U.S. firms open offices in Seoul. Most of all, Korea offers a dedicated and high-quality workforce. I believe it’s the people of Korea who enabled the country’s economic miracle and will continue to power Korea’s growth.

WHAT CULTURAL DIFFERENCES SHOULD FOREIGN INVESTORS ACKNOWLEDGE WHEN DOING BUSINESS IN SEOUL?
Like many other countries in the region, building a strong and trusting relationship with your local counterparts is critical to doing business in Korea. Investors should demonstrate a commitment to the market and devote face time to build business relationships. It is also important to follow local business etiquette, such as exchanging business cards with two hands.

DO THE FLUCTUATING TENSIONS WITH NORTH KOREA AFFECT THE BUSINESS CLIMATE IN SEOUL?
Overall, tensions on the peninsula do not appear to distract foreign investment away from South Korea nor disrupt markets to a degree that concerns investors. Instead, there continues to be an upward trend in bilateral foreign direct investment between the United States and Korea, and Korea remains a hot destination for foreign investors. However, the U.S.-Korea Business Council closely monitors the security challenges in the region and any implications for U.S. businesses operating in Korea.

WHAT ARE THE KEY DEVELOPMENTS TO LOOK FOR IN SEOUL’S FUTURE?
At the center of Korea’s economic growth plan is the establishment of a “creative economy” based on innovation — leading to more public policies supporting entrepreneurship and increased investment in growing areas of science and technology such as biotechnology, cyber security, information technology and more. Korea is already a leader in patents and innovation, and I expect we will continue to see new and innovative products coming out of Korea. Another milestone to watch is when Korea joins the Trans-Pacific Partnership — a 21st-century agreement expected to be the most comprehensive and high-standard agreement in force anywhere. Korea’s accession would signal the Park administration is committed to international standards and ensuring Korea is one of the best places in Asia to do business.

Things to Do in Seoul

As life in Seoul continues at its customarily ceaseless pace, it is hard to comprehend you are just 27 miles from the world’s most dangerous border. The Demilitarized Zone between North and South Korea divides the Korean Peninsula from coast to coast. It is an unlikely tourist attraction, but a daytrip there is unforgettable. The only place you can enter the DMZ is at the Joint Security Area in Panmunjom, where U.S. and South Korean soldiers supervise visitors at all times. Several huts constructed for the original ceasefire talks in 1953 straddle the border. Inside them, you can stand, momentarily, in North Korean territory. A Seoul-based company, DMZ Tours, offers full-day excursions to Panmunjom, departing from the Lotte Hotel, from $81 per person.

When you are in the midst of bustling Seoul, it is difficult to picture what South Korean life was like before the country made its leap into the modern world. Within living memory, life was predominantly rural, defined by centuries-old traditions. For a glimpse of that bygone era, visit the Korean Folk Village, an hour by bus south of Seoul. More than 260 reconstructed Chosun Dynasty houses offer an immersive experience of old Korea.

Gyeongbokgung Palace © Seoul Tourism Organization

Perhaps surprisingly, some beautifully preserved fragments of Korea’s illustrious imperial past reside right in the center of downtown Seoul. Six royal palaces, protected behind high walls, provide respite from the modern city. The most impressive is Gyeongbokgung Palace, located at the northern end of Sejongno, the main downtown avenue. Set within extraordinarily beautiful, remarkably peaceful grounds, the palace was originally built in 1395 during the Joseon Dynasty. It was destroyed by the Japanese in 1597 and remained in ruins until reconstruction began in 1867, a process which is ongoing. Admission to the palace grounds includes entry to the National Folk Museum. Entry to the National Palace Museum (also within the grounds) requires a separate fee (approximately $2).

The National Museum of Korea was formerly located at Gyeongbokgung. In 2005, it relocated to an impressive, purpose-built site in Yongsan, where it has 15,000 exhibits on display at any one time, including a large proportion of Korea’s officially designated National Treasures.

National Treasure No. 1 is too big to fit in any museum. The 550-year-old Namdeamun was once one of eight ceremonial gates into the city. Now sitting in the middle of a junction, overshadowed by skyscrapers, it remains a potent symbol of Seoul’s proud past. In 2008, an arson attack badly damaged the gate, but it was restored to its former glory and reopened in 2013.

The dominant event of the country’s recent history was the Korean War (1950–1953), commemorated at the War Memorial of Korea in Yongsan. As much a military museum as a memorial, it includes extensive indoor and outdoor exhibits.

The Korean War Memorial in Yongsan © Francisco Furio Marco | Dreamstime.com

Much of Seoul’s success since the war is due to consumerism. Seoulites love shopping, and for outsiders the city is an unrivaled shopping paradise. At the top end is Apgujeong, Seoul’s Beverly Hills, a cluster of streets in Gangnam lined with upscale boutiques. If you want a taste of true Gangnam Style, this is where you’ll find it. Downtown, the most prestigious district is Myeong-dong, a largely pedestrianized maze of streets popular with the young and trendy. Itaewon, close to Yongsan, mainly caters to foreigners and transforms to a nightclub district after dark. If you’re interested in antiques and collectibles, head to Janganpyeoung Antiques Market, accessed from Dapsimni Metro Station.

For an overview of the entire city, there are few better places than N Seoul Tower on top of Namsan Mountain, the 860-foot peak immediately south of downtown. The observatory provides outstanding panoramas in every direction.

Seoul: Just the Facts

Time Zone: GMT +9
Phone Code: Country code: 82 City code: 2
Entry/Exit Requirements: U.S. citizens require a valid passport. No visa is needed for leisure or business trips of up to 90 days. If you plan to stay longer than 90 days, you must obtain a visa before arrival.
Currency: South Korean won
Official Language: Korean
Key Industries: IT, manufacturing, financial services, retail, construction, tourism

Seoul Info to Go

Most international flights arrive at Incheon International Airport, approximately 30 miles west of Seoul. Access to the city is by express train (40 minutes to downtown Seoul), bus or taxi (expect to pay $43–53). Seoul’s former gateway, Gimpo International Airport, nine miles west of downtown, remains in use, primarily handling domestic and regional flights to Japan, China and Taiwan.

Where to Stay in Seoul

IP Boutique Hotel One of the best value hotels in the city, this boutique hotel is trendy and ideally located for the popular Itaewon shopping and entertainment district. 737-32 Hannam-dong, Yongsan-gu $$$

Lotte Hotel Seoul Located just a block from Seoul Plaza, the geographic heart of downtown Seoul, this famous hotel was voted Global Traveler’s Best Hotel in Korea the past two years. 30 Eulji-ro, Jung-gu $$$$

Park Hyatt Seoul If you’re staying in the upscale Gangnam district, you need a hotel to match. This is it, with comfort and sophistication in perfect harmony. 606 Teheran-ro, Gangnam-gu $$$$

Restaurants in Seoul

Braai Republic For simple, fundamental, barbecued meat, this unpretentious restaurant in Itaewon can’t be beat. Get an authentic taste of South Africa in the middle of Seoul. 63-4 Itaewon-dong, Yongsan-gu $$

Gaehwaok Enjoy traditional Korean cuisine stripped to its essentials, incorporating fresh ingredients sourced from all corners of the country. Located in a backstreet of Gangnam. 661-18 Jeongdong Building 107, Sinsa-dong, Gangnam-gu $$$

Woonsan Gwanghwamun Authentic Korean cuisine comes in a variety of guises, from street food to royal banquets. This is the latter, a sumptuous treat. Seoul Financial Center B1, 84 1st Taepyung-no, Chung-gu $$$$

Read more about Seoul’s bangs (meaning “room”).