Korea maintains the top position on the Ease of Doing Business index, which is an annual evaluation by the World Bank of countries’ business environments. In 2020, Korea was rated as the fifth-best business environment in the world.
A biz-friendly country, Korea
Korea ranks high in all categories on the Ease of Doing Business index, in which 190 countries around the world were surveyed by the World Bank. Based on the score, Korea boasts outstanding performance in categories such as Getting Electricity (99.9), Starting a Business (93.4), and Trading across Borders (92.5). And by ranking, Korea demonstrates remarkable performance in Getting Electricity (2nd), Enforcing Contracts (2nd), and Resolving Insolvency (11th) This excellent business environment stems from the Korean government’s efforts such as improving infrastructure, ease of administrative procedures and expanding economic cooperation with another countries. Every year, the figures are getting better and it is expected to improve in the future also.
**This article is extracted from Invest KOREA Magazine August, 2021.
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