IMD World Competitiveness Booklet 2021

COMPETITIVENESS TRENDS - OVERALL KOREA REP.

OVERALL PERFORMANCE (64 countries)

BASIC FACTS Capital Land area (square km '000)

Rank

Seoul

2017 2018 2019 2020 2021

100 2020

1.180 2020 51.78 2020 1,630.5 2020 44,621 2020 -1.0 2020 0.54 2020 4.00 2020 28.01 2020 4.62 2020 238.6 2019 0.59 2019

Exchange Rate (per $)

23

23

27

28

29

17

Population - market size (millions)

CHALLENGES IN 2021 Transformation of service industries: contact-free and digitalized. Return of inflation, interest rate hikes and increasing borrowing • Transformation of service industries: contact-free and digitalized. • Return of inflation, interest rate hikes and increasing borrowing costs. • Disparity between advanced economies and emerging markets due to unequal vaccination. • Reshoring, near-shoring and supply chain disruption. • Global corporate tax coordination.

10

Gross Domestic Product (GDP) (US$ billions)

22

GDP (PPP) per capita (US$)

7

Real GDP growth (%)

28

Consumer price inflation (%)

8

Unemployment rate (%)

15

Labor force (millions)

14

Current account balance (% of GDP)

24

Direct investment stocks inward ($bn)

Korea Institute for International Economic Policy (KIEP) Provided by: Korea Institute for International Economic Policy (KIEP)

54

Direct investment flows inward (% of GDP)

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

2

5

5

17

21 18

23

26 25

30

30

30 30

31

33

33

34

37

49

51

PEER GROUPS RANKINGS ASIA - PACIFIC (14 countries)

POPULATIONS > 20 MILLION (29 countries)

2017 2018 2019 2020 2021

2017 2018 2019 2020 2021

7

7

8

8

9

9

10

10

11

11

83

IMD WORLD COMPETITIVENESS BOOKLET 2021