COUNTRY PROFILE Korea Republic
Statistical tables Factor I: Economic Performance WORLD COMPETITIVENESS RANKING 2018 All data are available from the World Competitiveness Online. Visit our eshop 1
COMPETITIVENESS TRENDS - OVERALL KOREA REP. OVERALL PERFORMANCE (63 countries) 26 25 29 29 CHALLENGES IN 2018 Manage Manage international international and and domestic domestic tensions tensions from from the the DPRK's DPRK's nuclear and missile development. Create quality jobs especially for youngsters. Accelerate structural reform in corporate and labor markets. Strengthen inclusiveness among economic agencies. Consolidate economic resilience from external shocks. Provided Korea Institute by: for International Economic Policy (KIEP) Korea Institute for International Economic Policy (KIEP) 27 BASIC FACTS Rank Capital Land area (square km '000) Seoul 100 2017 Exchange Rate (per $) 1.130 2017 Population - market size (millions) 51.45 2017 17 Gross Domestic Product (GDP) (US$ billions) 1,530.8 2017 12 GDP (PPP) per capita (US$) 39,440 2017 26 Real GDP growth (%) 3.1 2017 26 Consumer price inflation (%) 1.94 2017 31 Unemployment rate (%) 3.80 2017 13 Labor force (millions) 27.75 2017 15 Current account balance (% of GDP) 5.13 2017 13 Direct investment stocks inward ($bn) 185.0 2016 28 Direct investment flows inward (% of GDP) 1.11 2017 48 COMPETITIVENESS LANDSCAPE Economic Performance Government Efficiency Business Efficiency Infrastructure Domestic Economy International Trade International Investment Employment Prices Public Finance Tax Policy Institutional Framework Business Legislation Societal Framework Productivity & Efficiency Labor Market Finance Management Practices Attitudes and Values Basic Infrastructure Technological Infrastructure Scientific Infrastructure Health and Environment Education 9 35 35 6 22 17 29 38 39 33 30 22 7 32 25 54 47 53 55 PEER GROUPS RANKINGS ASIA - PACIFIC ( countries) POPULATIONS > 20 MILLION (29 countries) 9 8 10 10 9 10 9 11 11 10 2
COMPETITIVENESS TRENDS - FACTOR BREAKDOWN KOREA REP. ECONOMIC PERFORMANCE 20 15 21 22 20 Sub-Factor Rankings : 2017 Domestic Economy 17 International Trade 35 International Investment 40 Employment 7 Prices 47 2018 9 35 35 6 54 GOVERNMENT EFFICIENCY 26 28 26 28 29 Sub-Factor Rankings : 2017 Public Finance 19 Tax Policy 15 Institutional Framework 29 Business Legislation 48 Societal Framework 42 2018 22 17 29 47 38 BUSINESS EFFICIENCY 39 37 48 44 43 Sub-Factor Rankings : 2017 Productivity & Efficiency 35 Labor Market 52 Finance 35 Management Practices 59 Attitudes and Values 36 2018 39 53 33 55 30 INFRASTRUCTURE 19 21 22 24 18 Sub-Factor Rankings : 2017 Basic Infrastructure 27 Technological Infrastructure 17 Scientific Infrastructure 8 Health and Environment 35 Education 37 2018 22 7 32 25 3
WORLD COMPETITIVENESS DIGITAL RANKING 2018 All data are available from the World Competitiveness Online. Visit our eshop 4
DIGITAL TRENDS - OVERALL KOREA REP. OVERALL PERFORMANCE (63 countries) Overall Alpha Alpha Factors Beta BetaLabel Gamma GammaLab Sub-Factors 1 2 2 2 2 2 2 4 4 4 2 2 6.5 4 4 2 2 8.5 4 4 2 2 10.5 4 4 2 2 11 26 8 7 Knowledge Talent Training & education Scientific concentration 17 27 44 2 Technology Regulatory framework Capital Technological framework 17 3 47 20 The direction of the triangle indicates the performance change from the last year: improved or stable declined Future readiness Adaptive attitudes Business agility IT integration OVERALL & FACTORS - 5 years OVERALL Knowledge Technology Future readiness 21 18 17 19 12 13 15 11 18 16 13 17 17 25 24 25 24 17 COMPETITIVENESS & DIGITAL RANKINGS Digital Competitiveness N.B. This graph provides only a comparison of the country s performance in the two rankings. 21 26 18 17 19 25 29 29 27 PEER GROUPS RANKINGS ASIA - PACIFIC ( countries) POPULATIONS > 20 MILLION (29 countries) 8 6 6 6 4 9 7 7 7 5 5
u Overall top strengths w Overall top weaknesses FACTORS BREAKDOWN - STRENGHTS AND WEAKNESSES KOREA REP. KNOWLEDGE Subfactors Talent 21 23 27 25 26 Training & education 12 10 13 8 Scientific concentration 9 9 8 9 7 Talent Rank Rank Rank Training & education Scientific concentration Educational assessment PISA - Math 6 Employee training 35 u Total expenditure on R&D (%) 2 International experience 45 Total public expenditure on education 27 Total R&D personnel per capita 8 Foreign highly-skilled personnel 49 u Higher education achievement 3 w Female researchers 52 Management of cities 19 Pupil-teacher ratio (tertiary education) 29 R&D productivity by publication 23 Digital/Technological skills 26 Graduates in Sciences 9 Scientific and technical employment 29 Net flow of international students 49 Women with degrees 19 High-tech patent grants 5 TECHNOLOGY Subfactors Regulatory framework 29 23 28 28 27 Capital 30 32 35 41 44 Technological framework 3 2 2 2 2 Regulatory framework Rank Capital Rank Technological framework Rank Starting a business 7 IT & media stock market capitalization 16 Communications technology u Enforcing contracts 1 Funding for technological development 46 Mobile Broadband subscribers 5 w Immigration laws 55 w Banking and financial services 54 Wireless broadband 13 w Development and app. of technology 52 Investment risk 22 Internet users 16 Scientific research legislation 37 w Venture capital 53 u Internet bandwidth speed 1 Intellectual property rights 39 Investment in Telecommunications 47 High-tech exports (%) 9 FUTURE READINESS Subfactors Adaptive attitudes 11 8 8 10 3 Business agility 43 38 43 48 47 IT integration 21 17 21 23 20 Adaptive attitudes Rank Business agility Rank IT integration Rank E-Participation 4 Opportunities and threats 52 u E-Government 3 Internet retailing 4 Innovative firms 34 Public-private partnerships 37 Tablet possession 12 Agility of companies 45 Cyber security 24 Smartphone possession 13 Use of big data and analytics 31 Sofware piracy 24 Attitudes toward globalization 22 Knowledge transfer 29 6
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