Korea is the 8th best country in which to run a business, according to Grant Thornton International. The global consulting firm put it ahead of Japan, China and even the United States. In Asia, Korea was only outranked by Singapore.
Wednesday's report was based on five categories -- business operating environment, science and technology, labor and human capital, economy and growth, and financing environment.
It placed Korea 4th in the science and technology category, pointing to the achievements of the nation's top 10 conglomerates, which are at the forefront of technological innovation.
It said Korea's 6th place in the labor and human capital category is supported by a low unemployment rate and a highly educated population.