South Korea placed 10th in this year’s World Digital Competitiveness Ranking which was released by the International Institute for Management Development (IMD) on Sept. 26. South Korea climbed four notches from a year ago in the survey, which covers 63 countries.
The first World Digital Competitiveness Ranking was released in 2015 and this is the first time since then that South Korea joined the top 10. The country came in 18th in 2015, 17th in 2016, 19th in 2017 and 14th in 2018. This year, it took the third place among 14 Asia-Pacific countries and second among 29 countries with a population of at least 20 million.
The ranking consists of three categories for evaluating knowledge as capabilities to understand and learn new technologies, technology as capabilities to develop new digital innovation, and future preparedness as preparations for future development. South Korea ranked fourth in future preparedness, 11th in knowledge, and 17th in technology. More specifically, it ranked high in terms of R&D expenditures, Internet speed, retail via the Internet and civic engagement via the Internet and ranked low in terms of international experience, the number of female researchers, immigration laws and banking and financial services.
The United States topped the list for the second consecutive year, followed by Singapore, Sweden, Denmark and Switzerland. The five countries maintained the same ranks this year. China rose from 30th to 22nd and Hong Kong rose from 11th to eighth. On the other hand, Britain fell from 10th to 15th, Canada from eighth to 11th, and Japan from 22nd to 23rd.