IMD World Competitiveness Booklet 2022

Korea Rep. Competitiveness Trends – Overall

OVERALL PERFORMANCE (63 countries)

BASIC FACTS

Rank

2018

2019

2020

2021

2022

Capital Land area (square km '000)

Seoul

100 2021

1.144 2021

Exchange Rate (per $)

23

23

Population - market size (millions) 51.68 2021 16 Gross Domestic Product (GDP) (US$ billions) 1,798.5 2021 10 GDP (PPP) per capita (US$) 48,578 2021 25 Real GDP growth (%) 4.0 2021 45 Consumer price inflation (%) 2.50 2021 24 Unemployment rate (%) 3.70 2021 10 Labor force (millions) 28.31 2021 14 Current account balance (% of GDP) 4.91 2021 16 Direct investment stocks inward ($bn) 264.9 2020 24 Direct investment flows inward (% of GDP) 0.54 2020 48

27

27

28

CHALLENGES IN 2022

• Promote digital and green transformation. • Prepare for a new geopolitical era. • Foster inclusive growth as the COVID-19 crisis recedes. • Handle the inflation uncertainty and its economic impact. • Integrate ESG practices into the economic system.

PROVIDED BY: Korea Institute for International Economic Policy

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

3

6

12

16 19

23

23

26

30

31

31 29

32

35 36

37

38

42

48

49

PEER GROUPS RANKINGS ASIA - PACIFIC (14 countries)

POPULATIONS > 20 MILLION (27 countries)

2018

2019

2020

2021

2022

2018

2019

2020

2021

2022

8

8

6

9

10

7

7

11

9

9

84 Competitiveness Country Profiles