Seoul remains in 5th spot in business environment
Korea has remained unchanged in fifth place out of 190 countries in this year’s ranking on the ease of doing business, a report showed Thursday.
It marked the sixth straight year that Korea made the top five in the annual “Doing Business” report by the World Bank.
The ease of doing business ranking measures 10 areas of business regulation — starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
New Zealand stood at the top for providing the best overall business environment, followed by Singapore and Hong Kong. Denmark finished fourth this year, while the United States and Britain placed sixth and eighth, respectively.
Korea came in second in the category of getting electricity and enforcing contracts in 2019, respectively, both unchanged from a year earlier.