The Ministry of Strategy & Finance announced on October 17 that South Korea ranked 15th out of 140 countries in this year’s Global Competitiveness Report of the World Economic Forum (WEF). Last year, South Korea ranked 17th.The country joined the top 30 in 10 out of the 12 categories of the report.
South Korea ranked first in the OECD when it comes to the employment rate of those aged 70 to 74 and the relative poverty rate of South Koreans aged 65 or more is 20 percentage points higher than that of the country with the highest relative poverty rate in the EU.According to Statistics Korea, the
The ongoing trade war between the United States and China is engulfing Latin America. Argentina has declared a sovereign default following Venezuela, causing a rapid depreciation of Latin American countries’ currencies.The current situation is very similar to what they went through 10 years ago. In
The McKinsey Global Institute said on September 5 that the United States and China are currently most prepared in the world for introduction of artificial intelligence (AI) while South Korea is about average. Yet the institute forecast that South Korea is likely to show the highest rate of introduct
South Korea came in 12th, overtaken by Russia, in the global GDP ranking, but moved up from 45th to 31st in the global per-capita GNI ranking last year.According to the World Bank, South Korea’s GDP totaled US$1.5308 trillion last year. It took the 14th place from 2009 to 2013 before moving up to 13
Binance, the world's largest cryptocurrency exchange, may enter South Korea. Launched in July last year, Binance is currently the largest one of its kind in terms of trading volume.Binance CEO Changpeng Zhao attended the Blockchain Partners Summit in Seoul on July 21 to 22. During his keynote sp
South Korea and India reached a comprehensive agreement on additional commodity and service market opening within the framework of the Comprehensive Economic Partnership Agreement (CEPA).According to the agreement, South Korea and India will open their agricultural and fisheries and petrochemical ma
South Korea’s monthly exports exceeded US$50 billion for four months in a row for the first time in history. Although its export growth rate edged down last month, the rate for the first half continued to increase. Still, a heavy reliance on semiconductor exports and sluggish exports from the automo
South Korea has been included in the list of the possible candidates for a nuclear power plant construction project in Saudi Arabia. A fierce bidding war is anticipated among the five shortlisted countries, including the United States, China, France and Russia.The Ministry of Trade, Industry & Energ