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Published on Oct 25, 2016
한국, 세계은행이 꼽은 기업하기 좋은 나라 5위... 한단계 하락
A new report by the World Bank has named South Korea the fifth easiest country in the world to do business.
A new report by the World Bank has named South Korea the fifth easiest country in the world to do business.
The country received high scores for electricity supply, legal settlement and an easy administrative system for business newcomers.
Hwang Hojun, reports.
One of the top five business environments in the world.
In its global rankings of business efficiency, which was published by the World Bank on Tuesday,...
South Korea was ranked fifth out of 190 countries, with a score of more than 84 points.
The coveted top spot went to New Zealand, followed by Singapore.
The average point total for OECD high-income countries was 77.65.
South Korea's points total was slightly up from last year, and well above the regional average, but still took a step down in rankings.
The World Bank's annual report sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations.
It measures and tracks changes in regulations affecting eleven areas in the life cycle of a business: including but not limited to starting a business, getting electricity, resolving insolvency and labor market regulation.
South Korea moved up the rating ladder by finishing first in terms of providing electricity and reaching a legal settlement.
The country placed near the top in terms of its environment for starting a business, jumping to 11th place from its previous 23rd.
The World Bank especially emphasized Korea's elimination of post-registration procedures.
However, the country backtracked on offering protection to minor investors, dealing with construction permits, and getting credit and administrative procedures on cross-border trading.
The nation's finance ministry says it'll push to make Korea an even more attractive place for doing business globally and starting new ventures.
The government also says it will keep trying to improve regulations in general.
Hwang Hojun, Arirang News.
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