Expansive in dimensions, Wangjing is a very important residential zone and has a large number of high-rise apartments built from the mid-1990s onwards. Due to the large number of South Korean residents, "Wangjing", has also become known as Beijing's Koreatown. More than 70,000 South Koreans live in the neighborhood.
As of 2010 many South Koreans moving to Beijing have settled in Wangjing. Most South Korean businesspeople and their families in Beijing live in Wangjing. Hyejin Kim, author of International Ethnic Networks and Intra-Ethnic Conflict: Koreans in China, wrote that the growth of Wangjing has eclipsed Wudaokou in Haidian District as a Korean area.
Wangjing houses many technology companies, both small startup companies as well as national, and large international corporations. Examples include:
- Wangjing Science and Technology Park, which houses mainly technology startup companies.
- A major office of China Telecom.
- The headquarters of Siemens Ltd. China
- Alibaba Group Beijing
- The China headquarter of Caterpillar Inc.
- The China headquarter of Daimler Crysler
- Many foreign telecommunication R&D offices for companies such as Panasonic, Ericsson, Motorola, Sony Ericsson, Nortel, Alcatel and Lucent.
There are several schools in Wangjing, and some of them are prestigious:
- China Central Academy of Fine Arts
- Beijing No.80 High School (the only Beacon high school located in Chaoyang District)
- Korean International School in Beijing (KISB)
- Kim, Hyejin. International Ethnic Networks and Intra-Ethnic Conflict: Koreans in China. Palgrave Macmillan, May 15, 2010. ISBN 0230308937, 9780230308930.
- Koreatown Grows in District of Beijing
- Kim, Hyejin, unstated (PT146) on Google Books. "Since the announcement of the 2008 Beijing Olympics, South Koreans have eagerly begun to buy newly built apartments."
- Invest in Beijing, Official Chinese Government Information about Wangjing Science and Technology Park
- "Welcome to Korean International School in Beijing" (Archive) Korean International School in Beijing. Retrieved on January 25, 2014.