Daejeon is South Korea's fifth-largest metropolis. Located in the central region of South Korea, Daejeon serves as a hub of transportation and is at the crossroads of major transport routes. The capital Seoul is about 50 minutes away by KTX or SRT high speed rail. Daejeon is one of South Korea's administration hubs with the Daejeon Government Complex. Currently, 12 national government offices, including Korea Customs Service, Small and Medium Business Administration, Public Procurement Service, National Statistical Office, Military Manpower Administration, Korea Forest Service, Cultural Heritage Administration, and Korean Intellectual Property Office, as well as Patent Court of Korea, are located in Daejeon. Korail, Korea Water Resources Corporation, and Korea Minting and Security Printing Corporation are also headquartered in the city.
Daejeon has 18 universities, including KAIST and Chungnam National University. Daejeon has earned its name as "Asia's Silicon Valley" and "high technology city". The city hosted the Taejon Expo '93 and the International Mathematical Olympiads in 2000. Several important research institutes are based in the city.
Daedeok Innopolis (Daedeok Research and Development Special Zone) is composed of 28 government-funded research institutions, as well as 79 private research institutes with as many as 20,000 researchers. In addition, Daejeon established the World Technopolis Association (WTA) in 1998 with the view of realising regional development through international co-operation with world science cities. The WTA has grown to have 67 members from 32 countries, and it actively co-operates with many international organisations including UNESCO as its official consultative body.
Daejeon is ranked #199 by the Global Urban Competitiveness Report (GUCR) which evaluates and ranks world cities in the context of economic competitiveness. Daejeon was ranked #445 by the Nomad List which evaluates and ranks remote work hubs by cost, internet, fun and safety. Daejeon has a population of over 1,538,394 people.