Korea rises 6 spots to 21st in world competitiveness rankings
Korea rose six places to rank 21st out of 70 countries in the International Institute for Management Development’s World Competitiveness Ranking, marking its second-highest position since it was first included in the evaluation in 1997, the Ministry of Finance and Economy said Th
Korea rose six places to rank 21st out of 70 countries in the International Institute for Management Development’s World Competitiveness Ranking, marking its second-highest position since it was first included in the evaluation in 1997, the Ministry of Finance and Economy said Thursday. Among countries with per capita incomes of more than $30,000 and populations of more than 50 million, Korea ranked second after the U.S.
, up from third place. The annual ranking is regarded as one of the most representative indicators of national competitiveness, the ministry said. Covering 70 countries, including OECD members and emerging economies, the IMD assessment evaluates the capacity of nations and businesses to increase wealth and improve quality of life.
Korea’s previous highest ranking was 20th in 2024, while its lowest was 41st in 1999. Across the four main categories, sharp gains in business efficiency and infrastructure drove Korea’s overall rise. Government efficiency remained unchanged from the previous year, while economic performance edged down.
Business efficiency saw the biggest j
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