South Korea came in at No. 5 in business environment among 190 countries this year, driven by high scores in electricity supply and other legal, administrative and taxation systems, a report by the World Bank showed Wednesday. It marked a notch down from last year.
The annual “Doing Business 2017” report gave South Korea a total 84.07 points. The country moved up in the ratings in terms of legal settlement, environment for starting a business, tax payment and property registration. Its rankings, however, dropped for protection of minor investors, construction permits and on getting credit and administrative procedures for cross-border trading.
New Zealand ranked at the top, followed by Singapore and Denmark. Hong Kong advanced to fourth this year.
The World Bank analyzes the business environments in 10 broad categories in accordance with the business life cycle from start to closure, analyzing each country’s legal and administrative rules and practices, along with taking feedback from experts and businessmen.
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