Seoul Mayor Park Won-soon said the capital city will try to attract foreign businesses with substantial assistance, including cash. 

Park revealed the plan on Monday in a lecture hosted by the American Chamber of Commerce in Korea(AMCHAM).

According to the mayor, Seoul will build industrial clusters in six different areas to accommodate foreign companies. Park said the city will also provide foreign firms with cash allowances in cooperation with the Ministry of Trade, Industry and Energy. 

He also outlined plans to attract foreign talent, including through eased visa issuance and housing-related support, adding details will be announced via advertisements on global media outlets such as the New York Times.