Korea Ranks 26th in Global Competitiveness

Korea's global competitiveness ranking for this year stands unchanged from last year at 26th out of 140 countries, but significantly down from the peak 11th place in 2007.

The World Economic Forum, the Swiss foundation that compiles the list, attributed the ranking to the weak efficiency levels of Korea’s labor and financial markets.

Switzerland ranked first, followed by Singapore and the U.S. Japan came sixth and China 28th, unchanged from last year.