Korea ranked 13th on the “Best Countries for Business 2014” of Bloomberg, published yesterday.
Bloomberg reported that Korea recorded 75.3 points out of 100 last year to take the 13th position, jumping eight notches from a year earlier. The country showed particularly positive results on the transport cost and globalization sides.
Hong Kong topped the list for two years in a row. Japan and China fell nine and four notches to 12th and 28th, respectively.
This is the third year in a row that Bloomberg has published this ranking. The overall rank is based on scores in six different criteria – degree of economic integration, cost of setting up a business, cost of labor and materials, cost of moving goods, costs of inflation and corruption, and the health of its consumer base.