The World Bank’s new Doing Business report, released on October 23, ranked Korea eighth among the 185 nations in the doing business index for the second year in a row. Among the 10 categories that make up the index, Korea’s ranking rose in four and fell in three. Rankings in three categories remained unchanged. Regulatory reforms in areas related to protecting investors, paying taxes and getting electricity contributed to the rise in the overall ranking.

Korea’s ranking has improved by 15 steps since 2008, thanks to the government’s persistent efforts to boost investment and remove obstacles to business activities. However, improvements need to be made in ‘registering property,’ where Korea’s ranking is still stagnant in the 70’s range.

* Source : Ministry of Strategy and Finance and Korea Development Institute, Economic Bulletin Vol.34 No.11 (November 2012).
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