Korea's Competitiveness Ranking Rises to 25th

      May 28, 2015 12:16

      Korea's national competitiveness ranking rose by one notch this year to 25th among 61 nations surveyed.

      The annual World Competitiveness Yearbook is published by the Institute for Management Development in Switzerland.

      The U.S., Hong Kong, and Singapore led the pack. China came 22nd, a notch higher than last year, and Japan 27th, down six.

      The IMD assesses countries in four categories -- economic achievements, government efficiency, corporate efficiency, and infrastructure.

      Korea's ranking rose in large part due to a jump in economic achievements from 20th last year to 15th. International trade performance in particular helped, with the country ranked ninth in the subcategory of current account balance to GDP ratio.

      Korea achieved its biggest-ever current account surplus last year with US$89.2 billion.

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